Thomas H. Lee Partners agrees to buy Fogo de Chão

Thomas H. Lee Partners LP, a leading private equity firm focused on investments in global businesses, has agreed to buy Fogo de Chão Churrascaria (Holdings) LLC, a group of fine dining, full-service restaurants, from GP Investments Ltd., for an undisclosed sum.

Dallas-based Fogo de Chão owns seven steakhouses in Brazil and 18 in the United States, including one restaurant in San Antonio.

Larry Johnson, Chief Executive Officer of Fogo de Chão, said, "We couldn't be more pleased to be partnering with an investor like THL. Their expertise in working with management teams to support and deliver profitable growth in consumer-driven businesses is a great match for Fogo, our passion for the guest experience and where we are heading in the future."

The transaction is expected to close in the third quarter, subject to regulatory approvals and other customary closing conditions. J.P. Morgan and Jefferies Finance LLC are providing committed financing for the transaction.

Jefferies & Company, Inc. acted as financial advisor and Weil, Gotshal & Manges LLP acted as legal advisor to THL. J.P. Morgan acted as financial advisor and Davis Polk & Wardwell LLP acted as legal advisor for Fogo de Chão.

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