Dallas-based Brazilian steakhouse poised to 'take over U.S.'

Dallas-based Brazilian steakhouse Fogo de Chao is about to “take over the U.S.” according to Business Insider writer Ryan Gorman.

The company, which has a location in Kansas City and two in the Chicago area, recently filed its initial public offering, releasing details of its performance.

The restaurant chain with locations in the U.S. and Brazil serves mostly Brazilian barbecue in an all-you-can-eat format where diners pay $59.50 for unlimited food. Menu items include a variety of meat on skewers such as grilled beef, lamb, chicken, pork and seafood, along with a salad bar.

The approach helped Fogo de Chao post $262 million in 2014 revenue – across 35 locations – up 20 percent from 2013.

Combined food and labor costs account for only half of revenue, according to the company, which is seeking to raise $750 million through its IPO.

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