Report: Cafe Rio eyes IPO

|By:, SA News Editor

P-E firm KarpReilly is reported to be considering an IPO for its Cafe Rio restaurant chain.

The fast-casual Mexican chain is one of the closest things to a Chipotle (CMG -1%) competitor.

Last year, the company had sales of $137M for its 68 units.

The average check per person at Cafe Rio came out to $9 which is fairly level with Chipotle.