In a deal valued over $1 billion
The parent company of pizza-and-arcade chain Chuck E. Cheese’s has begun to prep for an initial public offering, sources say.
The private equity owner of CEC Entertainment, Apollo Global Management, has begun talking with banks about taking CEC public some time in the latter half of 2017, people familiar with the matter told Reuters. The deal would be valued at over $1 billion, including debt, the sources estimated.
The sources added that the company could also go to another private buyer, if the offer was attractive enough.
Apollo previously took the company private in a $1.3 billion transaction in 2014.