California Pizza Kitchen

Financing

California Pizza Kitchen to be acquired by investor group

Consortium Brand Partners, Convive Brands, Eldridge Industries and Aurify Brands plan to lead the casual-dining chain into a new era of growth, with an eye on franchising and retail.

Financing

California Pizza Kitchen to be sold to investor group, report says

A group led by Consortium Brand Partners is set to acquire the casual-dining pizza chain for less than $300 million, Reuters reported.

Behind the Menu: The casual-dining chain may have “pizza” in its name, but since salads account for 20% of sales, the time was right to innovate with new formats, ingredients and presentations.

The casual-dining chain created some buzz this week by unveiling a bold new look, only to reverse course with the help of actress and superfan Busy Philipps.

The brand known for giant, fry-stuffed burritos is generating more revenue per store than any of the company’s other brands and could reach thousands of locations this year.

The casual-dining pizza chain hopes to add about 75 domestic locations via franchising over the next five years starting with an operator in Nevada.

The refranchising program is the latest step in the chain’s efforts to run fewer of its own restaurants.

CEO Jim Hyatt is out, along with longtime culinary chief Brian Sullivan and two others. Board member Jeff Warne was named CEO and president.

It took an internal mind shift, plus the addition of griddles and a couple of SKUs, for Chef Brian Sullivan to perfectly execute the new West Coast Burger.

Throughout October, there’s free stuff for CPK customers who opt for the new West Coast Burger instead of pizza.

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