SpaceX Q2 Earnings on Aug. 4 Set Stage for Historic Insider Share Unlock 
Trump Set to Unveil New Tariffs on Dozens of Countries as Global 10% Duty Nears Expiration 
Bank of America Says These Overlooked AI Stocks Could Be the Next Winners 
Trump Announces 100% Tariff on Generic Drug Imports Starting in 2028 
SpaceX Targets Thursday Launch for Starship's 13th Test Flight After Last-Minute Delay 
Oil Prices Hold Steady as U.S.-Iran Conflict and Houthi Blockade Keep Markets on Edge 
TSMC Sees Multi-Year AI Chip Demand as Arizona Expansion Reaches $265 Billion 
US Dollar Climbs to Weekly High as Middle East Tensions Lift Treasury Yields and Safe-Haven Demand 
Nvidia Reveals 9.3% Stake in AI Cloud Firm Nebius Following $2 Billion Investment 
Saudi Oil Tankers Reverse Course as Houthi Threats Disrupt Red Sea Shipping 
Japan PM Sanae Takaichi Unveils Growth Plan as BOJ Independence Concerns Lift Bond Yields 
Asian Currencies Hold Steady as Fed Outlook Offsets Middle East Tensions 
Tesla Stock Outlook: Strong EV Sales Boost Earnings, but AI Projects Drive Long-Term Value 
Super Micro Computer Stock Jumps 20% After Record AI Orders and Margin Surge 
KPMG Australia Appoints John Sams as CEO Following Audit Leak Scandal 
Alaska Air Q3 Outlook Misses Estimates as Higher Fuel Costs Weigh on Profit Forecast 
China Holds Loan Prime Rates Steady for 14th Month as Economic Recovery Remains Uneven 
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
