Chuck E. Cheese's sold to private equity firm

Posted online January 16, 2014 | 6:20 am

The corporate owner of kid-centric restaurant chain Chuck E. Cheese's has been gobbled up by a private equity firm for $1.3 billion, according to CNNMoney.

Apollo Global Management is purchasing the company for $54 a share in cash from CEC Entertainment.

CEC and franchisees operate 577 Chuck E. Cheese's stores in 47 states and 10 foreign countries.

Read more from CNNMoney.

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