CORRECTED-UPDATE 1-Brazilian-style steakhouse chain Fogo de Chao files for IPO (April 20)

martes 21 de abril de 2015 11:23 GYT
 

(In April 20 story, corrects 2013 loss to $937,000 from $937 mln in paragraph 7)

April 20 (Reuters) - Fogo de Chao, a steakhouse chain offering 20 cuts of meat in Brazilian-style tableside barbecue service, has filed with U.S. regulators for an initial public offering of its shares.

The IPO filing follows the successful listing of hamburger chain Shake Shack Inc in January and Habit Restaurants Inc in November.

Fogo de Chao, back by private equity firm Thomas H. Lee Partners LP, has 26 restaurants in the United States and nine in Brazil, according to a regulatory filing on Monday. (1.usa.gov/1aLU2vO)

The Dallas-based "churrascaria" serves all-you-can-eat meats roasted over pits of open fire in a Brazilian barbecue technique called "churrasco".

Fogo de Chao started as a restaurant in Porto Alegre, Brazil, in 1979 by chef brothers Jair and Arri Coser and it expanded to the United States in 1997 with an outlet in Dallas.

Thomas H. Lee acquired Fogo de Chao in 2012 for $400 million from investment firm GP Investments Ltd.

Fogo de Chao's revenue jumped nearly 20 percent to $262.3 million in the year ended Dec. 28. The company reported a profit of $17.6 million for the period compared with a loss of $937,000 a year earlier.

Fogo de Chao had about $243 million in debt as of December.   Continuación...