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09/29/2021

Portillo's Plans Initial Public Offering

Portillo's IPO plans follows on the heels of other high profile IPOs and acquisitions in the restaurant tech space.
Anna Wolfe
Senior Editor - Restaurants
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Portillo's Inc. is planning to go public.

The Chicago-based fast casual brand has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission  relating to a proposed initial public offering of shares of its Class A common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. Portillo's has applied to list its shares of Class A common stock on the Nasdaq Global Select Market under the ticker symbol "PTLO." The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Restaurants & Technology Investments Heat Up

Portillo's IPO plans follows on the heels of other high profile IPOs and acquisitions in the restaurant tech space. Earlier this month, First Watch filed to go public, and Toast filed for an $100M IPO in August. 

SpotOn  has raised $300 million that will be used to acquire the digital and mobile commerce platform Appetize. Online ordering company Olo held its IPO in March. On the M&A front, Punchh was acquired by Par Technology and Restaurant365 Bought Compeat, to name a few.