Chuck E. Cheese Sells to Hostess and PBR Owner for $950 Million

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Mr. Cheese himself. Photo: Screen magazine

It seems the emo makeover of America's creepiest animatronic rodent didn't pay off for Chuck E. Cheese's: Apollo Global Management will acquire the struggling chain of arcade-restaurants for $950 million, or $1.3 billion including debt. Other forlorn companies taken under Apollo's wing for rehabilitation include Pabst Blue Ribbon and Hostess, meaning there's real potential here for some inter-portfolio collaboration to keep parents sane on PBR while their young'uns chow down on Ho Hos and count out tickets for a Styrofoam Twinkie the Kid. [AP, Related]