Chuck E. Cheese has been around for almost forever. Millennials grew up playing at the restaurant and eating pizza. The company was founded in 1977 by Nolan Bushnell, the founder of video game company Atari.
It looks like 2017 will be the year that Chuck E. Cheese enters the market as the parent of the arcade restaurant is preparing for an initial public offering (IPO).
The IPO could value the restaurant chain at more than $1 billion according to people familiar with the situation.
According to the people, Chuck E. Cheese’s private equity owner, Apollo Global Management, has initiated conversations with banks about an IPO that could come in the second half of 2017.
Chuck E. Cheese and its franchisees now operate a system of 603 Chuck E. Cheese and 144 Peter Piper Pizza stores, with locations in 47 U.S. states and 11 other countries.