Tuesday, November 28, 2023
HomerestaurantsChuck E. Cheese parent CEC explores sale: Sources

Chuck E. Cheese parent CEC explores sale: Sources

CEC Entertainment, the parent of family restaurant and entertainment chain Chuck E Cheese, is exploring a potential sale to private equity, according to people familiar with the matter.

The Irving, Texas-based company, which has a market capitalization of about $760 million, is working with Goldman Sachs Group and has been speaking with interested buyers over the last several months, the people said on Tuesday.

The people declined to comment because the matter is not public.

CEC and Goldman Sachs declined to comment.

CEC and its franchises operate 567 Chuck E. Cheese stores in 47 states, the majority of which are owned and operated by the company. The company's Chuck E. Cheese stores have musical and robotic entertainment, games, rides, play areas, and food like pizza and sandwiches.

(Read more: Fast food CEO: How govt regulation drove us abroad)

CEC is the latest in restaurant chain exploring a potential sale.

CKE, the restaurant group that owns the Carl's Jr. and Hardees chains, sold to buyout firm Roark Capital in November for between $1.65 billion and $1.75 billion.

Hospitality firm Carlson is attempting to sell its TGI Fridays business, while Ruby Tuesday and Dave & Busters are also on the block, sources familiar with the matter said previously.

—By Reuters


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