California Pizza Kitchen, affectionately known as “CPK,” is on the verge of being acquired by an investor group by the end of this month. The deal, estimated to be around $300 million, is expected to be finalized soon.
Consortium Brand Partners, along with Eldridge Industries, Aurify Brands, and Convive Brands, is set to acquire the renowned casual dining chain. Jonathan Greller, President of Consortium Brand Partners, expressed excitement about the partnership and plans to expand CPK’s global presence, grocery products, and explore new product categories.
Under the new ownership, Convive Brands will oversee global operations and act as the master franchisor for all CPK restaurants worldwide. Jon Weber, CEO of Convive Brands, will lead the CPK restaurant group, managing all global restaurant operations.
In addition to its casual dining locations, CPK offers a range of packaged goods, including frozen pizzas and salad dressings, available in over 10,000 major grocery retailers globally. The brand has also introduced a unique pizza vending machine concept in select travel hubs.
The investor group believes that CPK is primed for growth, particularly in its retail line, which has outpaced competitors. While specific plans for the brand’s future were not disclosed, the focus remains on expanding its franchise and increasing both domestic and international presence.
California Pizza Kitchen, established in 1985 by Rick Rosenfield and Larry Flax, currently operates 120 locations worldwide. The brand has been sold multiple times over its four-decade history. This latest acquisition is expected to close by the end of December, marking a new chapter for the beloved restaurant chain.
Peace Nero is a writer and blogger who loves to explore different topics of self-development. She shares her personal experiences in order to help people discover their true purpose in life.