China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Asian Markets Surge as Japan Election, Fed Rate Cut Bets, and Tech Rally Lift Global Sentiment 
Lee Seung-heon Signals Caution on Rate Hikes, Supports Higher Property Taxes to Cool Korea’s Housing Market 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Innovent Biologics Shares Rally on New Eli Lilly Oncology and Immunology Deal 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
U.S. Stock Futures Rise as Markets Brace for Jobs and Inflation Data 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Bain Capital, an American private investment firm based in Boston, has acquired Fogo de Chao, a famous international restaurant brand that is known for its rodízio-style steakhouses. The PEF firm is buying the Brazilian chain from the Rhone Group.
Fogo de Chao is a fast-growing steakhouse chain that was already preparing for an initial public offering (IPO). However, the acquisition deal has changed the course in which the restaurant company has been traversing.
As per Restaurant Business, Bain Capital's purchase of Fogo de Chao represents a big change in the plans to go public. It is not clear if the IPO route will still be taken once the acquisition is completed.
It was reported that the deal's financial terms were not revealed to the public. The Boston, Masacchussets headquartered private equity firm will gain all of the 76 units of Fogo de Chao restaurants around the world.
The brand operates 58 dining places in the United States, and the rest are located in other regions, including Mexico, the Middle East, and Brazil. Previously, the company shared its ambitious plan of expanding to the Philippines, Canada, Bolivia, and Costa Rica, Forbes reported in April.
"Over the past several years, we made significant progress enhancing our unique offering and ability to bring the very best in experiential dining to more guests than ever before," Barry McGowan, Fogo de Chao's chief executive officer, said in a press release. "We thank the Rhône team for their partnership during a critical and successful period in our history. Bain Capital shares our vision, and we are excited to leverage their extensive experience investing in and supporting the global growth of restaurant businesses."
Mark Saadine, a principal at Bain Capital, also added that they "look forward to partnering with Barry and team, and supporting them with our experience and resources to help accelerate growth while maintaining Fogo's distinctive authenticity."
Photo by: Bain Capital Press Release
