Thomas H. Lee To Pay $400M For Fogo De Chao Chain

Law360, New York (May 29, 2012, 2:52 PM ET) -- Brazil's GP Investments Ltd. will unload its fast-growing Fogo de Chao fine dining chain in a $400 million deal with Boston-based private equity firm Thomas H. Lee Partners LP, the two announced Tuesday.

Under a definitive agreement, THL will pick up the entire interest in Fogo de Chao Churrascaria Holdings LLC, which operates Fogo de Chao restaurants, upscale Brazilian steakhouses with locations in the U.S. and Brazil. The transaction is expected to close sometime in the third quarter of this year, pending regulatory approval.

THL did...
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