California Pizza Kitchen, known for its unconventional toppings like BBQ chicken, does change ownership again. An investor group led by Consortium Brand Partners plans to take over the chain.
The deal, which should close this month, is valued at just under $300 million. according to Reuters. The new owners say CPK is positioning itself for “a new era of growth” with franchise expansion, new products and improved retail presence.
Founded in 1985 in Beverly Hills by two former federal prosecutors, CPK brought twists like Thai chicken and California Club to pizza. The chain filed for bankruptcy in 2020 during the pandemic, but CPK has since recovered and now operates more than 120 restaurants in 10 countries, sells frozen pizzas in more than 10,000 supermarkets and is testing vending machines at airports.
Read more
California Pizza Kitchen, known for its unconventional toppings like BBQ chicken, does change ownership again. An investor group led by Consortium Brand Partners plans to take over the chain.
The deal, which should close this month, is valued at just under $300 million. according to Reuters. The new owners say CPK is positioning itself for “a new era of growth” with franchise expansion, new products and improved retail presence.
Founded in 1985 in Beverly Hills by two former federal prosecutors, CPK brought twists like Thai chicken and California Club to pizza. The chain filed for bankruptcy in 2020 during the pandemic, but CPK has since recovered and now operates more than 120 restaurants in 10 countries, sells frozen pizzas in more than 10,000 supermarkets and is testing vending machines at airports.
Read more
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