Fogo Hospitality Announces Proposed IPO

Fogo Hospitality (FOGO) has filed for a proposed NYSE IPO.

The company describes itself as: “We are Fogo de Chão (fogo-dee-shoun), an internationally renowned, growing restaurant brand, providing experiential dining with a compelling value proposition to a young and diverse population. We believe our business model, which we call “fast experiential dining”, combines the best attributes of the labor-efficient and high traffic “fast casual” segment of the restaurant industry with the guest experience and high Average Unit Volumes (“AUVs”) of the “full service” restaurant segment. With a whitespace opportunity of more than 10 times our present footprint, exceptional unit economics, strong traffic growth, and robust cash flows, we believe we have decades of profitable growth ahead. “

Morgan Stanley, BofA Securities and Jefferies will serve as lead underwriters.