Baird's Investment Banking Group is pleased to announce the following transaction:

Date:
October 2021
Company:
Portillo’s Inc.
Description:
Initial Public Offering
Sector(s):
Consumer
Baird served as bookrunner on this offering

Portillo’s Inc. (“Portillo’s” or the “Company”) (NASDAQ: PTLO), a portfolio company of Berkshire Partners, recently completed an initial public offering of 23,310,810 shares of Class A Common Stock at a price of $20.00 per share, including the full exercise of the underwriters’ option to purchase an additional 3,050,540 shares of Class A common stock. Gross proceeds from the offering were approximately $466.2 million. The Company intends to use the net proceeds from the offering for debt paydown and to purchase OpCo units.

Portillo’s Inc. serves iconic Chicago street food through high-energy, multichannel restaurants designed to ignite the senses and create a memorable dining experience. The Company’s diverse menu features all-American favorites such as Chicago-style hot dogs and sausages, Italian beef sandwiches, chopped salads, burgers, crinkle-cut french fries, homemade chocolate cake and milkshakes. Portillo’s creates a consumer experience like no other by combining the best attributes of fast casual and quick service concepts with an exciting energy-filled atmosphere and restaurant model capable of generating tremendous volumes. Portillo’s is headquartered in Oak Brook, Illinois.

Berkshire Partners is a leading private equity firm focused on partnering with high-quality, sustainable businesses that are well-positioned for long-term growth. Since its founding in 1986, Berkshire Partners has gained significant experience partnering with management teams at small to mid-sized consumer companies to accelerate growth. Berkshire Partners employs a highly collaborative approach to realize the full potential of each enterprise.

For additional information about this transaction, please contact:

Chris Sciortino +1-312-609-4923
Les Cheek +1-617-426-5789
Sandy Walter +1-414-298-5118
Ryan Brunker +1-312-609-4679
Ryan Engelhardt +1-414-298-2637