Pieology buys Project Pie

Pieology has purchased Project Pie, making it the first fast-casual pizza brand to acquire one of its largest competitors, the chain said Tuesday.

The acquisition, the terms of which were not disclosed, will enable Pieology to grow through some consolidation of fast-casual pizza’s rapidly crowding field.

“I have long said that consolidation was the future for the fast-casual pizza segment,” Pieology CEO Carl Chang said in a statement, noting that the purchase “provides us with an opportunity to strategically accelerate our growth.”

The buy could be the first of many for Pieology, which received an investment from Panda Express’ parent earlier this year. Panda Restaurant Group’s buying power was a primary reason for the partnership, Pieology noted at the time.

Project Pie was the brainchild of founder James Markham, who was once involved with Pieology as well as a third fast-casual pizza spot, MOD Pizza. 

Markham later split with the latter two to focus on growing Project Pie, which he last year called “the anti-chain chain.”

Papa Murphy’s previously owned a stake in Project Pie, which it sold in 2015. 

Members help make our journalism possible. Become a Restaurant Business member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.

Multimedia

Exclusive Content

Financing

In the Del Taco franchisee bankruptcy, signs of the industry’s distress

The Bottom Line: Why did a 22-unit operator of the Mexican chain turn to one of the riskiest pieces of financing? Because the industry is in a tough spot, and some operators have few options.

Financing

Once a skeptic, Domino's embraces third-party aggregators

The Bottom Line: The pizza chain’s deal with DoorDash appears to be working as expected, according to the data firm M Science. Those aggregators have become vital for Domino’s market share, and other chains too.

Food

Lime Fresh Mexican Grill carves out a new pizza category on its menu

Behind the Menu: The Miami-based fast casual partnered with a Florida hot sauce company to launch scratch-made Mexican pizzas with local flavor.

Trending

More from our partners