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Oak Lawn Chuck E. Cheese and Others Sold to Equity Firm

Apollo Global Management, the same company that purchase Hostess last year, will spend $1.3 billion to acquire the chain.

Chuck E. Cheese is located at 4031 W. 95th St. in Oak Lawn. FILE: Patch photo
Chuck E. Cheese is located at 4031 W. 95th St. in Oak Lawn. FILE: Patch photo
The same firm that purchased Hostess Brands last year has bought all of the Chuck E. Cheese restaurants, including the one in Oak Lawn, which has served as the setting of numerous Oak Lawn Patch police blotter items over the years..

The children's entertainment restaurant chain was acquired by private equity firm Apollo Global Management for $1.3 billion, according to CNN Money on Thursday.

Apollo announced it will pay $54 a share in cash for the company CEC Entertainment, according to the report. 

CEC and its franchises operate 577 Chuck E. Cheese's locations in 47 states and in 10 foreign countries, including 22 in Illinois. In addition to the Oak Lawn location at 4031 W. 95th St, there are franchises in Joliet near the Louis Joliet Mall, Naperville and Tinley Park.

Apollo will pay 11.5 premium from Wednesday's CEC stock close and 25 percent above the closing price on Jan. 7, according to CNN Money.

The restaurant serves pizza, sandwiches and other menu items, as well as games, rides and other forms of child entertainment. CEC reported a drop in revenue in five of the last seven quarters, though shares were up by 33 percent last year, acceding to CNN Money.

Joe Kocur January 16, 2014 at 10:38 PM
Did the firm pay for it in link cards?
CJM January 17, 2014 at 08:46 AM
I hear Apollo is also purchasing the shibui condos down the street and turning them into section 8 rentals for their core customers. All they need now is a place where the baby mamas can get they nails and hair did, and their project will be complete!
Honestly IPO January 17, 2014 at 09:52 AM
Can you use link cards for Chuck E. Cheeses?? I was at Costco and the person in front of me made their purchase with a Link card and I questioned cashier about it because I have to use cash or a debit card attached to my checking account. The answer was "it's a new policy". If someone can afford the $50 to $100 membership fee they should not have a Link card.
Michelle January 17, 2014 at 11:13 AM
So does that mean they are going to shut the F^!#*@g place down? Please?
Joe Kocur January 17, 2014 at 12:27 PM
O- yes you can use link card just about anywhere you want. It's called the " purple platinum" to many business owners! Pete's fresh market in EP! Makes a killing from link
Michelle January 17, 2014 at 12:41 PM
Seriously? What does this have to do with a persons Link Card?
Roy Keane January 18, 2014 at 09:24 AM
@Michelle No need to over-think things :).
Dan January 29, 2014 at 08:36 AM
hope they keep chuck-e. cheese going . I love reading about certain people fighting in front of their little welfare checks.

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