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An announcement today revealed California Pizza Kitchen (CPK) will be acquired by Consortium Brand Partners (CBP) in partnership with Eldridge Industries, Aurify Brands, and Convive Brands. The consumer brand investment company also owns Jonathan Adler, Outdoor Voices, and Reese Witherspoon’s clothing line, Draper James.
Convive Brands, a restaurant operations and investment platform, is set to run global operations and act as master franchisor for CPK restaurants. CEO Jon Weber will join as CEO of the CPK restaurant group.
What Has CPK Been Up to?
Founded in Beverly Hills in 1985, CPK is known for its fast-casual, California-style dishes and for pioneering the Original BBQ Chicken Pizza. The chain has been owned by its lenders since it recovered from bankruptcy in 2020 due to pandemic-driven financial issues.
CPK now consists of over 120 restaurants across 10 countries and operates a consumer-packaged goods platform, distributing frozen foods like pizza to 10,000 grocery stores worldwide. The brand also recently launched a vending machine system in airports, campuses, and entertainment venues that offers warm, freshly baked pizza.
Jonathan Greller, CBP’s president and co-founder said in the press release that the company will “build on CPK’s rich heritage by expanding its global restaurant footprint, growing its grocery presence, and exploring new product categories that celebrate California creativity and flavor.”
With three prior acquisitions under its belt, CBP adds food, beverage, and hospitality sectors to its portfolio with the new deal.
Key Players
Asset management company Eldridge Industries invests in brands including Billboard and Rolling Stone, GoPuff, and the Los Angeles Dodgers, along with The Little Beet and Melt Shop, according to NRN.
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Ava Levinson
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