Chuck E. Cheese may be switching hands
Private equity firm Ares Management is in talks to acquire Chuck E. Cheese for around $2 billion from Apollo Global Management, per Bloomberg. The report adds that Bain Capital, Hellman & Friedman and Warburg Pincus has expressed interest in the company – which also has considered an IPO – but bailed over pricing.
Surprise party: This is the sort of company that should have disappeared in an age of home video-games, decent pizza and indoor trampoline parks, but instead is still worth $2 billion and has more than 700 locations.
Fun fact: Chuck E. Cheese was founded by Nolan Bushnell, who also founded Atari and was Steve Jobs' first boss.