Fogo de Chão
Corporate brand
UnclaimedA Brazilian churrascaria chain known for rodízio-style fire-roasted meats and a full-service dining experience.
Last updated August 25, 2026
Overview
Fogo de Chão is a Brazilian restaurant brand specializing in churrasco, the Southern Brazilian tradition of roasting meat over an open fire. Its name translates approximately as “ground fire,” referring to the gaucho practice of cooking meat on skewers over a fire. The brand is best known for its rodízio-style service, in which diners receive repeated tableside servings of grilled meats, typically including beef, lamb, pork, chicken, and other cuts, while also having access to a market table or salad-bar selection of salads, vegetables, cheeses, cured items, and side dishes. The company was established in 1979 in Porto Alegre, Brazil, by brothers Arri and Jair Coser together with Jorge and Aleixo Ongaratto. The founders came from the rural Serra Gaúcha and Rio Grande do Sul regions, where they learned churrasco cooking and developed familiarity with ranching and Southern Brazilian food traditions. The Ongarattos also worked in churrascarias before joining the Coser brothers in creating the restaurant business. After the first location, the founders opened a second restaurant in São Paulo. Visitors to the São Paulo operation encouraged the company to take its churrascaria format abroad, contributing to its international expansion. Fogo de Chão entered the United States in 1997 with a restaurant in Addison, Texas. The US became an important growth market, and the brand subsequently expanded across North America, Brazil, and other international markets. By the period covered in the reference material, the chain had more than 110 locations across Brazil, the United States and Puerto Rico, Mexico, the Middle East, and several Latin American and Asian markets. Its expansion strategy has preserved the theatrical elements of churrascaria dining—skewers, carving, tableside service, and visible grilling—while adapting menus and operating formats for local markets. The core restaurant proposition is the full churrasco experience. Guests may choose continuous service, with restaurant staff presenting different grilled meats at the table, or select buffet and à la carte options. In addition to meat, the offering includes traditional Brazilian accompaniments and market-table selections. The brand has also broadened beyond conventional dine-in service through pickup, delivery, and off-site catering. These formats allow it to serve private events, corporate functions, and customers seeking prepared versions of its signature dishes at home. Ownership has changed several times. Brazilian private-equity firm GP Investments invested in the company in 2006 and later sold its interest to Thomas H. Lee Partners in 2012. Fogo de Chão filed for a Nasdaq initial public offering in 2015 and traded under the symbol FOGO. Rhône Capital acquired the publicly traded company in 2018, taking it private. Bain Capital acquired the chain in 2023 in a reported transaction valued at approximately $1.1 billion; the figure is reported in the referenced material and should be understood in the context of that acquisition rather than as a current valuation. The brand has also participated in initiatives connected to food traceability and community support. In 2019, it partnered with Texas agri-technology company HerdX on a program using digital tagging and blockchain-related tools to provide information about the provenance of beef. During the COVID-19 pandemic, restaurants in several cities worked with No Kid Hungry to provide meals to families, hospitals, and other institutions. Fogo de Chão remains an active international restaurant brand positioned between casual dining and premium steakhouse hospitality, with Brazilian cultural identity and tableside churrasco service at the center of its appeal.
History
Fogo de Chão was founded in 1979 in Porto Alegre, in Brazil’s southern Rio Grande do Sul region. Brothers Arri and Jair Coser established the business with Jorge and Aleixo Ongaratto. The four founders were connected to the churrasco tradition of the Southern Brazilian countryside. The Coser brothers grew up on a farm in the Serra Gaúcha, while the Ongaratto brothers came from neighboring rural properties and had worked in churrascarias in Rio de Janeiro. Their experience informed a restaurant model centered on open-fire grilling, skewered meats, and the communal hospitality associated with gaucho barbecue. The original restaurant was a simple wood-built establishment in the Porto Alegre countryside. A second location followed in São Paulo, bringing the concept to a larger and more commercially visible Brazilian market. The São Paulo restaurant attracted international visitors, some of whom encouraged the founders to introduce the churrascaria format outside Brazil. This helped shape the brand’s later international strategy. In 1997, Fogo de Chão opened its first US restaurant in Addison, Texas. The US operation became a major platform for growth, presenting Brazilian rodízio dining to American consumers through a premium full-service format. The restaurant’s identity depended not only on the food but also on the service ritual: servers circulate through the dining room with skewers of freshly grilled meat, carve portions tableside, and provide a range of salads, vegetables, cheeses, and other accompaniments through a market-table format. From the late 1990s through 2020, the company expanded across the United States, Brazil, Mexico, and the Middle East. The broader chain later included locations in Puerto Rico, Saudi Arabia, the United Arab Emirates, Honduras, the Philippines, Bolivia, Chile, Ecuador, and additional markets. The reference material describes the network as exceeding 110 locations. Expansion retained the Brazilian churrascaria identity while allowing the company to operate in different regulatory, real-estate, and consumer environments. The company’s capital structure changed during this expansion. GP Investments made an initial investment in 2006. In 2012, GP Investments sold its shares to Thomas H. Lee Partners. Fogo de Chão filed for a Nasdaq initial public offering in April 2015 and traded under the symbol FOGO. Rhône Capital acquired the company in April 2018, after which the business ceased to be publicly traded. Fogo de Chão later diversified its operating model beyond restaurant dining. It added pickup, delivery, and catering services, allowing its core grilled-meat products and Brazilian dishes to reach customers away from its dining rooms. In 2019, it announced a partnership with HerdX, a Boerne, Texas-based agri-technology company, to explore digital traceability for beef. The proposed customer-facing system used digital tags and QR codes to connect diners with information about the ranch that raised the cattle. During the COVID-19 pandemic, Fogo de Chão locations, including restaurants in Troy, Michigan, and San Francisco, participated in meal-donation efforts with No Kid Hungry and other institutions. These activities extended the brand’s role from restaurant operator to community food provider during a period of severe disruption to the hospitality industry. In August 2023, Bain Capital acquired Fogo de Chão in a transaction reported at approximately $1.1 billion. The acquisition placed the chain under new private-equity ownership while preserving its position as an active international restaurant brand. Its current identity remains based on Southern Brazilian churrasco, premium full-service hospitality, recurring tableside meat service, market-table dining, and growing off-premise and catering channels.
- 2023
Bain Capital acquisition
[1]Bain Capital acquires the restaurant chain in a transaction reported at approximately $1.1 billion.
- 2019
Beef provenance partnership with HerdX
[1]The chain announces a digital traceability project intended to provide diners with information about the ranch origin of beef.
- 2018
Rhône Capital takes the company private
[1]Rhône Capital acquires Fogo de Chão, ending its period as a Nasdaq-listed company.
- 2015
Initial public offering filing
[1]Fogo de Chão files for an IPO on Nasdaq under the proposed trading symbol FOGO.
- 2012
Thomas H. Lee Partners acquires GP Investments’ interest
[1]American private-equity firm Thomas H. Lee Partners becomes the subsequent financial sponsor after purchasing GP Investments’ shares.
- 2006
GP Investments makes an initial investment
[1]Brazilian private-equity firm GP Investments invests in the restaurant chain.
- 1997
First United States location opens
[1]Fogo de Chão enters the US market with a restaurant in Addison, Texas.
- 1979
First Fogo de Chão restaurant opens in Porto Alegre
[1]Arri and Jair Coser, together with Jorge and Aleixo Ongaratto, establish the first restaurant in Porto Alegre, Brazil.
Second restaurant opens in São Paulo
[1]The founders expand from Porto Alegre to São Paulo, exposing the churrascaria concept to a larger urban and international audience.
Products and positioning
Upscale Brazilian churrascaria combining traditional gaucho fire-roasted meats, rodízio tableside service, and a broad market-table offering.
Restaurant service · 1979
Full Churrasco Experience
The signature rodízio offering provides continuous tableside service of fire-roasted meats. Diners are presented with different cuts of beef, lamb, pork, chicken, and other meats, generally accompanied by access to the brand’s market-table selection and traditional Brazilian side dishes.
Salad bar and sides
Market Table
A buffet-style component of the Fogo de Chão experience featuring salads, vegetables, cheeses, cured foods, and other accompaniments. It complements the tableside meat service and can also support guests choosing lighter or non-rodízio dining options.
Restaurant menu
À la carte Brazilian dishes
The brand also offers individual menu items rather than requiring the full continuous-service format. These dishes extend the Brazilian steakhouse proposition through selected grilled meats, sides, and other traditional accompaniments.
Off-premise food service
Takeout, delivery, and catering
Fogo de Chão has expanded its service model to include pickup, delivery, and full-service catering at customer locations. These channels adapt the chain’s churrasco and Brazilian food offerings for private events, corporate occasions, and at-home consumption.
Marketing campaigns
- 2020No Kid Hungry meal-support efforts
United States
During the COVID-19 pandemic, Fogo de Chão restaurants in several US cities worked with No Kid Hungry and other institutions to donate meals to families, hospitals, and community organizations.
Outcome. Meal donations were provided during the pandemic response.
Brand decisions
2023
Acquisition by Bain CapitalM&ABackground
Following ownership by GP Investments, Thomas H. Lee Partners, and Rhône Capital, the chain entered another private-equity transaction.
Action taken
Bain Capital acquired Fogo de Chão.
Aftermath
The brand continued operating as a privately held international restaurant chain under Bain Capital ownership.
Reported transaction value. $1.1 billion (2023 acquisition)
2019
Beef traceability initiativeStrategyBackground
Consumers and food companies have shown growing interest in knowing the provenance of meat and other food products.
Action taken
Fogo de Chão partnered with HerdX on digital tagging and blockchain-related tools intended to let diners scan a QR code and learn about the ranch origin of beef.
Aftermath
The initiative positioned supply-chain provenance as an additional element of the customer experience.
2015
Public-market listing initiativeOtherBackground
The company pursued access to public equity markets during its expansion period.
Action taken
Fogo de Chão filed for an initial public offering on Nasdaq under the symbol FOGO.
Aftermath
The company was later acquired by Rhône Capital in 2018 and ceased to be publicly traded.
1997
International expansion into the United StatesStrategyBackground
After establishing restaurants in Porto Alegre and São Paulo, the founders received encouragement from international visitors to introduce the churrascaria format abroad.
Action taken
The company opened its first US restaurant in Addison, Texas.
Aftermath
The United States became a major market and platform for the chain’s subsequent international expansion.
Recent events
- 2023
Bain Capital acquires Fogo de Chão[1]
M&A
Bain Capital acquired the international churrascaria chain in a transaction reported at approximately $1.1 billion.
- 2020
Fogo de Chão supports meal donations during the COVID-19 pandemic[1]
Campaign
Restaurants in several cities worked with No Kid Hungry and other community partners to provide meals to families, hospitals, and institutions during the pandemic.
- 2019
Fogo de Chão and HerdX develop beef-traceability initiative[1]
Other
The companies announced a program using digital tagging and blockchain-related technology to help diners identify the ranch origin of beef served by the chain.
- 2018
Rhône Capital acquires Fogo de Chão[1]
M&A
Rhône Capital acquired the publicly traded restaurant chain, ending its Nasdaq-listed period and taking the company private.
- 2015
Fogo de Chão files for a Nasdaq initial public offering[1]
M&A · Other
The restaurant company filed to pursue an initial public offering on Nasdaq under the proposed ticker FOGO.
Sources2 sources
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