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Berkshire Partners in advanced talks to buy Portillo’s Restaurant Group for nearly $1bn

2 Jul 2014

portilloPrivate equity firm Berkshire Partners is reportedly in advanced talks to buy Portillo’s Restaurant Group for nearly $1bn.

Berkshire has outbid other private equity firms for the US Midwest-based restaurant chain, people familiar with the matter told Reuters. The firm has hired investment bank Piper Jaffray Cos to shop the company to potential buyers.

The people said that the negotiations have not been finalised.

Portillo currently has an EBITDA of more than $70m and annual revenues of $300m.

Berkshire is also said to be exploring sale options for its stake in discount supermarket chain Grocery Outlet. Berkshire bought into the business for an undisclosed amount in 2009 after beating off auction competitors Oak Hill Capital Partners and CCMP Capital Advisors.

Earlier this year the firm bought a majority stake in shopper history database Catalina from Hellman & Friedman.

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