Acquisition Overview - California Pizza Kitchen (CPK) is being acquired by a group led by Consortium Brand Partners, with Jon Weber appointed to lead restaurant operations [1][2] - The acquisition follows CPK's bankruptcy in July 2020 due to a sales slowdown and high debt levels [1] Management Structure - Jon Weber, CEO of Convive Brands, will become CEO of CPK's restaurant division, while Michael Beacham will oversee the consumer packaged goods (CPG) business [2] - The investor group includes Eldridge Industries, Bain Capital's credit arm, and Aurify Brands [2] Financial Aspects - The deal terms were not disclosed, but reports indicate the acquisition is valued at less than $300 million [3] - The transaction is expected to be completed by late December 2025 [2] Company Background - CPK was founded 40 years ago in Beverly Hills and operates over 120 locations globally [3] - The company currently sells frozen pizzas through a partnership with Nestlé and salad dressings via Litehouse, distributing products across more than 10,000 grocery retailers worldwide [5] Future Plans - The new owners plan to expand CPK's restaurant footprint both in the US and internationally through franchise partners [5] - There are intentions to increase grocery distribution of CPK-branded products and continue menu development [5] - Consortium Brand Partners' founder, Cory Baker, highlighted the brand's strong loyalty and significant growth opportunities [5] Investor Group Background - Consortium Brand Partners is making its first move into the restaurant sector with this acquisition [3] - Eldridge Industries' Convive Brands owns Le Pain Quotidien and The Little Beet, while Aurify Brands operates Melt Shop and Fields Good Chicken [4]

Group 1 - Consortium Brand Partners is entering the food business by acquiring California Pizza Kitchen (CPK) in partnership with Eldridge Industries, Aurify Brands, and Convive Brands [1][2] - The financial details of the acquisition were not disclosed, but Bain Capital Credit is providing debt and equity investment to support the deal, which is expected to close later this month [2] - Convive Brands will manage global operations and act as the master franchisor for all CPK restaurants worldwide, with Jon Weber appointed as CEO of the CPK restaurant group [3] Group 2 - CPK was founded in Beverly Hills in 1985 and currently operates 120 restaurants across 10 countries, along with a growing consumer packaged goods business selling frozen pizzas in over 10,000 grocery stores internationally [4] - The company has recently introduced a pizza vending machine concept aimed at airports, campuses, and entertainment venues [4] - Jonathan Greller, president and cofounder of Consortium Brand Partners, emphasized the goal of expanding CPK's global restaurant footprint and grocery presence while exploring new product categories [5][6]

Katie’s Frozen Pizzas Land At Target With $20 Million Retail Deal https://t.co/Bg4yFvl02Y https://t.co/sBQfvWMMRh ...