Rhône Completes Acquisition of Fogo de Chão, Inc.
April 05 2018 - 3:05PM
Fogo de Chão, Inc. (“Fogo” or the “Company”) (NASDAQ:FOGO) and
Rhône Capital (together with its affiliates, “Rhône”) today
announced the successful completion of the acquisition of Fogo by
Rhône. The acquisition was announced on February 20, 2018, and the
transaction closed and became effective today.
Under the terms of the transaction, Company
shareholders will receive $15.75 per share in cash for each share
they own. As a result of the completion of the acquisition, Fogo’s
common stock has ceased trading as of today on the NASDAQ Global
Select Market.
About Fogo de ChãoFogo de Chão
(fogo-dee-shown) is a leading Brazilian steakhouse, or
churrascaria, which has specialized for nearly 40 years in
fire-roasting high-quality meats utilizing the centuries-old
Southern Brazilian cooking technique of churrasco. Fogo delivers a
distinctive and authentic Brazilian dining experience through the
combination of high-quality Brazilian cuisine and a differentiated
service model known as espeto corrido (Portuguese for "continuous
service") delivered by gaucho chefs. Fogo offers its guests a
tasting menu of a variety of meats including beef, lamb, pork and
chicken, simply seasoned and carefully fire-roasted to expose their
natural flavors, a gourmet Market Table with seasonal salads, soup
and fresh vegetables, seafood, desserts, signature cocktails and an
award-winning wine list. The first Fogo de Chão opened in Brazil in
1979. There are currently 51 locations throughout Brazil, the
United States, Mexico, and the Middle East. Visit FOGO.com for more
information.
About RhôneWith over 20 years
of investing experience, Rhône is a global alternative investment
management firm with approximately $5.5 billion in assets under
management. The firm focuses its private equity investments in
market leading businesses with a pan-European or transatlantic
presence and global growth opportunities. Rhône, which is currently
investing capital from its fifth private equity fund, has invested
in a diversified portfolio of companies including those in the
aviation, chemical, consumer product, food, packaging, retail,
specialty material, security, business services and transportation
sectors.
Contacts:
ICR for Fogo de
ChãoKate Ottavio KentFogoPR@icrinc.com(646) 277-1200
Brunswick Group For Rhône Brian
Buckley/Charles Pretzlik+44 20 7404 5959E-mail:
bbuckley@brunswickgroup.com / cpretzlik@brunswickgroup.com
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