Illinois’ Portillo’s About to Become Nearly $3 Billion Public Company
One of Chicago's most iconic restaurant chains is about to take their company public.The Wall Street Journal is reporting valuation in the billions.
Soon, you'll have the opportunity to turn your Chicago-style hot dog obsession into a nice little investment. The extremely popular Italian food chain just announced their first ever pick-up and delivery-only restaurant in Joliet, has even more big news.
The Chocolate Cake Shake is Money in the Bank
I'm pretty sure it's a safe bet that Dick Portillo never thought that 58 years ago when he opened his first hot dog stand (The Dog House) in Villa Park, Illinois, that it would turn into what it is today.
Currently, Portillo's has more than 60 locations in Illinois, Wisconsin, Michigan, Indiana, Minnesota, Florida, Arizona and California.
Stock Tips and Italian Beef Sandwiches
We don't know yet just how much dough it'll cost you for a slice of this investment beef, but Wall Street's valuation of Portillo's initial offering is a lot of 'moo-la'.
"According to reporting from the Wall Street Journal, the Oak Brook-based company is targeting a valuation of $2.5 billion to $3 billion."
At this time, we also don't now how many shares will be offered when they finally go public. In the meantime, just keep stuffing your face with all their delicious Chicago-style hot dogs, Italian beef sandwiches, chopped salads, fries, chocolate cake and the most amazing onion rings I've ever eaten in my entire life.
Portillo's is always a great investment, whether it's for lunch or dinner...
Or your retirement.