Announced
Financials
Tags
Acquisition
Merger
United States
Restaurants and Bars
Private Equity
restaurant operator
Private
Failed
Synopsis
Apollo-backed CEC Entertainment, a leading owner, operator, and franchisor of a global network of entertainment and dining venues across two complementary brands, Chuck E. Cheese and Peter Piper Pizza, and Leo Holdings Corp, a publicly traded special purpose acquisition company, announced a merger agreement. This transaction will reintroduce CEC to the equity capital markets as a publicly listed company with an anticipated initial enterprise value of approximately $1.4bn. Tom Leverton, Chief Executive Officer, CEC Entertainment, Inc., said, "I am extremely proud of everything that we have accomplished at CEC, and we are pleased to be seeing significant momentum in recent same store sales trends. The executive team is eager to work with Leo as we continue to aggressively pursue opportunities in the next stage of our Company's evolution. Our future growth plans are based on enhancing the total guest experience, unlocking operational investments, growing and upgrading our venues, and opportunistically pursuing M&A initiatives."
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