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.


Exclusive Content


At Papa Johns, delivery shifts from its own apps to aggregators

The Bottom Line: The pizza delivery chain’s business with companies like Uber Eats and DoorDash is thriving while its own delivery is slowing. But this isn’t the beginning of the end of self-delivery, CEO Rob Lynch says.


How the shift to counter service has changed Steak n Shake's profitability

The Bottom Line: Sardar Biglari, chairman of the chain’s owner Biglari Holdings, details how the addition of kiosks and counter service has transformed restaurants.


Grand Geneva Resort & Spa's 'Ouisconsin' croissants reflect the state's French legacy

Behind the Menu: Hyper-local Wisconsin ingredients and a three-day baking process turn out pastries that are in high demand by hotel guests.


More from our partners