Chuck E. Cheese returning to public trading after 5 years
IRVING, Texas (AP) — Got some spare tokens? Chuck E. Cheese is returning to the public markets.
CEC Entertainment Inc., which owns 750 Chuck E. Cheese and Peter Piper Pizza stores in the U.S. and abroad, expects to begin trading on the New York Stock Exchange in the second quarter.
It’s the first time since 2015 that a restaurant chain will go public in the U.S. The last one was Brazilian steakhouse chain Fogo de Chao.
CEC anticipates an initial valuation of $1.4 billion. The Irving, Texas-based company reported revenue of $896 million in its 2018 fiscal year.
CEC — founded in 1977 and famous for its pizza parties and arcade games — was taken private in 2014 by the private equity firm Apollo Global Management. Apollo will be the company’s largest shareholder.