Financing

Why restaurant chains are going private

In this episode of "A Deeper Dive," Barry McGowan, CEO of Fogo de Chao, talks about his chain’s future and why it opted to sell to Rhone Capital last year.
Barry McGowan
Photograph courtesy of Fogo de Chao

a deeper dive

Why did Fogo de Chao opt to go private last year, just three years after it went public?

This week’s edition of  Restaurant Business’ podcast, “A Deeper Dive,” features the chain’s CEO, Barry McGowan, who took over leadership last year, following the chain’s sale to Rhone Capital.

Fogo is a 52-unit Brazilian steakhouse chain that operates high-volume, high-end restaurants where chefs go from table to table, presenting a variety of steaks and other meats such as pork, chicken and other items.

McGowan discusses the chain’s growth strategies and its restaurants in Brazil, as well as its unique international opportunity.

He also talks about why the chain went private. It's one of several publicly traded companies that have been sold to private-equity groups or strategic buyers, some of which went public only recently.

Please have a listen.

Members help make our journalism possible. Become a Restaurant Business member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.

Multimedia

Exclusive Content

Financing

In Red Lobster, a symbol of the challenges with casual dining

The Bottom Line: Consumers have shifted dining toward convenience or occasions, and that has created havoc for full-service restaurant chains. How can these companies get customers back?

Financing

Crumbl may be the next frozen yogurt, or the next Krispy Kreme

The Bottom Line: With word that the chain’s unit volumes took a nosedive last year, its future, and that of its operators, depends on what the brand does next.

Technology

4 things we learned in a wild week for restaurant tech

Tech Check: If you blinked, you may have missed three funding rounds, two acquisitions, a “never-before-seen” new product and a bold executive poaching. Let’s get caught up.

Trending

More from our partners