20 de abril de 2015 / 22:14 / en 3 años

UPDATE 1-Brazilian-style steakhouse chain Fogo de Chao files for IPO

(Adds background, details)

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 million a year earlier.

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

Jefferies and JPMorgan are the lead underwriters for the offering, which has a nominal fundraising target of $75 million.

Fogo de Chao did not say in the filing how many shares would be offered or their expected price. The company said it planned to list its stock on the Nasdaq under the symbol “FOGO”.

The amount a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different. (Reporting by Amrutha Gayathri in Bengaluru; Editing by Kirti Pandey)

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