Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, April 25, 2025

Article Excerpt

PORTILLO’S INC., $10.73, symbol PTLO on Nasdaq, is a Chicago-based restaurant chain that got its start in 1963 when founder Dick Portillo opened the restaurant “The Dog House” in a small trailer. Today, the business has 94 restaurant locations in 10 U.S. states. Portillo’s is best known for its Chicago-style hot dogs, Italian beef sandwiches, char-grilled burgers, fresh salads and “famous” chocolate cake. Portillo’s Home Kitchen is the company’s fast-growing catering business. Portillo’s also ships food to all 50 states via its website. In 2024, the company opened 10 new restaurants in the Arizona, Florida, Illinois, Michigan, and Texas markets, for a total of 94 locations, including a restaurant owned by C&O (50% owned by Portillo’s). Two restaurants in the Texas market were its Restaurant of the Future concept, a 6,250 square foot prototype restaurant. The company also opened its seventh restaurant in the Dallas-Fort Worth market to meet its goal of achieving minimum scale (6 to 8 restaurants) within 24 months of…