Restaurant chain Chuck E. Cheese is in for some changes.
A private equity group known for turning around troubled chains bought Chuck E. Cheese's parent company Thursday.
Apollo Global Management agreed to pay $1.3 Billion dollars for the company, C.E.C. Entertainment.
Founded in 1977, Chuck E. Cheese became popular for offering kids fun food combined with arcade games in a carnival-like atmosphere.
But business analysts say the chain didn't do enough to change with the times, and failed to attract parents as much as their kids.
Currently 577 Chuck E. Cheese restaurants operate in 47 states and in 10 countries around the world.