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.

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