Deals
Apollo Said to Be in Talks to Sell Chuck E. Cheese Chain to Ares
- Buyout firm said to seek about $2 billion for kid pizza chain
- Apollo said to pursue back-up IPO plan in case sale stalls
This article is for subscribers only.
The owner of Chuck E. Cheese is in talks with investment firm Ares Management LP over a sale that could value the children’s pizza and arcade chain at about $2 billion, people with knowledge of the matter said.
Ares is negotiating with owner Apollo Global Management LLC over the precise valuation, said the people, who asked not to be identified because they weren’t authorized to speak publicly. Bain Capital, Hellman & Friedman and Warburg Pincus dropped out of the bidding process over pricing, the people said. It’s unclear whether other parties are also negotiating with Apollo.