Chuck E. Cheese pizza and arcade chain’s parent company is planning for an IPO, reported Reuters. The public offering would be probably in the second half of 2017.
According to the report, the chain has initiated discussions with banks, however has not yet hired any underwriters. The offering would help the restaurant chain for a valuation of around $1 billion.
The chain is owned by Apollo Global Management and CEC Entertainment Inc. Majority of the stakes are with the investment funds affiliated with Apollo Global.
Chuck E. Cheese was established in 1977 as a family restaurant and since then it has been attracted by children. It operates 580 Chuck E. Cheese’s stores in 47 states and 10 international locations. Each restaurant offers fun and safe environment with various comic robotic entertainment, games, rides, play areas, etc.
For the third quarter CEC…