Rhone Capital to buy Fogo de Chão for $560 mln

Rhone Capital agreed to buy Fogo de Chão Inc in a deal valued at $560 million. Rhone is paying $15.75 a share cash for Fogo. Thomas H. Lee Partners LP, and certain of Fogo’s directors and executive officers, currently own more than 60 percent of Fogo’s shares. Fogo, of Dallas, is a Brazilian steakhouse that THL acquired in July 2012 for $400 million. Fogo went public in 2015.

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