Shake Shack chain or­ders up IPO

Post-Tribune - - Region / Business -

NEW YORK — Shake Shack is bring­ing its burg­ers, milk­shakes and crin­kle-cut fries to Wall Street.

The burger chain filed for an ini­tial pub­lic of­fer­ing Mon­day, hop­ing to raise as much as $100 mil­lion. It didn’t say how many shares it plans to of­fer, or at what price, so that num­ber may change. It plans to use the cash raised to open more restau­rants and to ren­o­vate ex­ist­ing stores.

The ori­gins of the restau­rant date to 2001, when Union Square Hos­pi­tal­ity Group, a company owned by restau­ra­teur Danny Meyer, opened a hot dog cart in Man­hat­tan’s Madi­son Square Park. Three years later a more per­ma­nent kiosk opened in the same park. There now are 63 Shake Shack restau­rants around the world. In 2013, the company had rev­enue of $84.5 mil­lion, up 45 per­cent from the year be­fore. It posted a profit of $5.4 mil­lion in 2013, up 31 per­cent from 2012.

Pedes­tri­ans walk by the Shake Shack in New York’s theater dis­trict.

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