Ares-Backed Restaurant Chain Cooper’s Hawk Said to Plan 2022 IPO

Cooper’s Hawk Winery & Restaurants, a casual-dining chain and wine club backed by Ares Management Corp., is planning a U.S. initial public offering this year, according to people with knowledge of the matter.

The Downers Grove, Illinois-based restaurant is targeting a valuation of more than $1 billion in the listing, the people said, asking not to be identified discussing private information. The company is working with advisers including Bank of America Corp., Jefferies Financial Group Inc. and Piper Sandler Cos. on the listing, the people said.

Representatives for Ares Management and Bank of America declined to comment. Representatives ...