FILE- This Jan. 16, 2014, file photo shows from left, Larry Roberson eats lunch with his grandchildren, McKenzie Allen and two-year-old Andrew McCallister during a visit to Chuck E. Cheese in Dallas. 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. (G.J. McCarthy/The Dallas Morning News via AP, File)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 under the ticker “CEC” 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.
Dave & Buster’s Entertainment, a food-and-arcade chain similar to Chuck E. Cheese, has more than tripled its share price to $53 since it went public in 2014. That was the same year CEC was bought by private equity firm Apollo Global Management and taken private.
On Monday, CEC said it would combine with Leo Holdings Corp., a special purpose acquisition company backed by London-based private equity firm Lion Capital. Leo will be renamed Chuck E. Cheese Brands Inc. CEC’s executive team – including CEO Tom Leverton – will continue to lead the company from its current headquarters in Irving, Texas.