Apollo Global Management has taken Carl’s Jr and Hardees and turned them into Chuck E. Cheese’s.
Apollo Global Management LLC said it will buy CEC Entertainment Inc., the parent of Chuck E Cheese restaurant chain, for about $948 million, adding to a portfolio that includes companies ranging from cruise ship operators to casinos….
Including debt, the deal is valued at $1.30 billion, the companies said….
Apollo’s offer for CEC comes on the heels of the investment firm’s sale of CKE, the restaurant group that owns burger chains Carl’s Jr and Hardees, to Roark Capital Group in November for about $1.70 billion.
Apollo Global to swallow Chuck E Cheese [Reuters]