Baja Fresh Owner To Buy Papa Murphy’s

PMI-CREATETesser31

MTY Food Group, the Canadian franchisor specializing in multi-concept brands including Blimpie, Pinkberry, Taco Time, Cold Stone Creamery, Planet Smoothie, and dozens of others, says it will acquire Papa Murphy’s Holdings.

On Thursday, Montreal-based MTY announced it has agreed to buy the Vancouver, Wash.-based take-and-bake pizza chain for about $190 million. Papa Murphy’s is the fifth-largest pizza chain in the United States, with 1,437 stores in 37 U.S. states, Canada, and the United Arab Emirates. It’s struggled in recent years amid intense competition in the pizza space. System sales declined by 4.5% and unit count declined 5.6% in the U.S., according to data from the Technomic Top 500 Chain Restaurant Report.

MTY has 5,941 mostly franchised stores, including 500 locations in 39 countries outside North America

“This is an important transaction for MTY as we add a brand with a differentiated position in pizza to our existing U.S. portfolio,” MTY CEO Eric Lefebvre said in a statement. He called the pizza segment “highly attractive due to its size, fragmented nature, and growth potential.”

MTY said it will make capital investments that will help increase same-store sales and franchisee profits.

RELATED CONTENT

Fatburger

Fatburger Warms Up to More Sunshine State Plans

The brand, part of the FAT Brands family, initially returned to the state in June 2023.

handshake 1200x800 1

Ojeda USA Adds 3 Rep Firms

The refrigeration solutions provider adds Access Partners, Curate and DJ Marketing to its network.

- Advertisement -

- Advertisement -

- Advertisement -

TRENDING NOW

- Advertisement -

- Advertisement -

- Advertisement -