California Pizza Kitchen To Be Acquired

Today, it was announced that California Pizza Kitchen entered a definitive agreement to be acquired by Consortium Brand Partners, in partnership with Eldridge Industries, Aurify Brands and Convive Brands.

Once the deal is complete, Convive Brands—an investment and operations platform of restaurant concepts including Le Pain Quotidien US and The Little Beet—will direct the chain’s global operations and become its master franchisor. Its CEO Jon Weber also will serve as CEO of the CPK restaurant group.

California Pizza Kitchen spans 10 countries, with more than 120 restaurants. It also recently piloted a pizza vending machine, and offers its frozen pizzas in grocery stores.

In addition to domestic and international franchise expansion, the deal will look to extend the CPK brand into new product categories, and enhance its presence across both restaurants and retail through strategic initiatives, states the press release.