Apollo is not selling its shares and will continue to be the majority owner. So the deal isn’t as much exit strategy as it is an approach to gain money to pay down debt.CEC estimates the newly public company will have an initial enterprise value of about $1.4 billion. For its 2018 fiscal year, the company said it saw revenue of $896 million and said it started 2019 with an enviable 7.7% gain in same store sales, a key chain metric.
Peter Piper Pizza has 144 locations across six southern and southwestern states, including Texas and Arizona, and Mexico. By comparison, 73% of locations are franchised. “Our future growth plans are based on enhancing the total guest experience, unlocking operational investments, growing and upgrading our venues, and opportunistically pursuing [merger and acquisition] initiatives,” he said.
Under Apollo’s ownership, CEC has invested in store remodels and launched a value-focused All You Can Play initiative that eliminates the need for the formerly ubiquitous Chuck E. Cheese coins, which most parents still have lining the bottom of a kitchen drawer.
Lolololol. Yes, buy into our last ditch effort to raise money to save our failing business. Sounds like an amazing investment!
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