Portillo's hot dog chain may be for sale
OAK BROOK – The Portillo Restaurant Group, owner of the popular fast food chain "Portillo's," announced Wednesday that the company is exploring financial alternatives, including the sale of its fast casual division.
Headquarted in Oak Brook, Portillo's has restaurants throughout the Chicago area as well as California, Arizona and Indiana.
"We've enjoyed significant growth over the past 50 years, experiencing same-store sales increases over the last 10 years in the Chicagoland area, even when the economy as a whole suffered," The Portillo Restaurant Group CEO, President and Founder Richard Portillo said in a news release.
In that last year, the sales from the restaurants exceeded $300 million and opened two more "successful" units in Arizona, according to the realease.
"It is an exciting opportunity for the company's history," Portillo said. "This is a thriving business poised to launch to the next level, presenting an incredible opportunity for employees and investors."
Piper Jaffray & Co. has been engaged as financial adviser to assist in evaluating alternatives, said the release.
Known for its Chicago-style hot dogs, Italian beef sandwiches and chocolate cake, Portillo's has locations in Willowbrook, Addison, Naperville, Bolingbrook, Downers Grove, Elmhurst and Villa Park.
"We constantly receive fan mail asking us to bring Portillo's to additional states beyond the four we operate in currently," Portillo said.