Chuck E. Cheese's parent company is returning to the New York Stock Exchange through a merger with a special purpose company, making it the first restaurant company to enter the public market in four years.
div > div.group > p:first-child"> Special purpose acquisition companies have no assets but use the proceeds from an IPO, combined with bank financing, to buy and take privately held consumer companies public. Leo Holdings, the SPAC merging with the parent of the children's party chain, was founded by executives of Lion Capital, a British private equity firm, to acquire a consumer business.
The deal is expected to close in the second quarter of 2019. After the deal closes, Leo Holdings plans to change its name to Chuck E. Cheese Brands. CEC Entertainment will be a subsidiary of Chuck E. Cheese Brands.
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