The Next Chipolte?
Chuy Holdings, Inc.
This may be one to keep an eye on.
I read in the Austin American Statesman about a new IPO coming up for CHUY's TexMex restaurants which may be a growth story over the longer term.
Not suggesting anyone buy the IPO, but one to watch to see how things transpire.
The target offering price is in the $12 range.
Here is a link to the Prospectus/amended registration filed with the SEC.
They had originally intended to file last year, but pulled it because of general market conditions at that time.
They have been around since 1982, and currently operate 32 restaurants, with plans to open 3 more by years end.
They have been financed by private equity, and after the IPO, Goode Partners LLC (which invested about $30M) will be about a 60% holder.
They have been showing annual growth, and are in several states.
They plan to use the proceeds to pay off term debt and to fund additional growth.
Their model is not to have a chain of identical outlets, but to operate "regional clusters of like outlets".
While their "home base" is in Texas, they are currently operating in Tenn, Ky, Ala, Ind, and plan to open locations in other areas.
This is not a recommendation, but simply a "heads up" for those who like the "growth potential" of the reataurant business.
Will provide more information as I have time to study it, but wanted to post something here other than "the sky is falling" and the "world is coming to an end".
Could be nothing, or could be an opportunity to get in early on the next "Chipolte".
Do your own DD and good luck if you decide to take a ride.
JMO and worth exactly what I am charging for it.