California Pizza Kitchen (CPK) is to be acquired by an investor group led by Consortium Brand Partners, with Convive Brands CEO Jon Weber appointed to lead the chain’s restaurant operations, as reported by Reuters. The deal comes five years after CPK entered bankruptcy during the pandemic, when a sales slowdown and high debt levels led the company to seek protection in July 2020. Lenders took ownership of the business following that process. Under the new structure, Weber - whose Convive Brands is part ...

Consortium Brand Partners is getting into the food business. The New York-based consumer brand investment platform that owns Draper James, Outdoor Voices and Jonathan Adler is part of a group that is acquiring California Pizza Kitchen. More from WWD The purchase price was not disclosed, but under the terms of the deal, Consortium is buying the business with Eldridge Industries, Aurify Brands and Convive Brands. Bain Capital Credit is supporting the deal with a debt and equity investment. It is expected ...

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