Fogo de Chão, Inc. and Rhône Capital announced the successful completion of the acquisition of Fogo by Rhône. The acquisition was announced on February 20, and the transaction closed and became effective Thursday.
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.
Fogo de Chão 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 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.
With 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.