Engaged Capital might have the recipe to build value for shareholders at Portillo's
Portillo's is an iconic midwestern fast casual chain founded more than 60 years ago. It has a differentiated menu anchored by Italian beef sandwiches, hot dogs and milkshakes. The company was acquired by private equity firm Berkshire Partners in 2014 from the founder for approximately 20 per share, and the stock soared to $54.22 per share about a month later. Since then, Berkshire has been selling its position down from 66% to 19% while the stock has ...