US EditionPublished • loading... • Updated
California Pizza Kitchen Reaches Buyout Deal, Names New ...
Convive Brands will manage global operations as Consortium Brand Partners and allies invest to expand CPK’s 120 restaurants across 10 countries and grow consumer products.
- On Tuesday, Consortium Brand Partners entered a definitive agreement with Eldridge Industries, Aurify Brands and Convive Brands to acquire California Pizza Kitchen, with closing expected later this month.
- Consortium Brand Partners is expanding its portfolio into food, moving beyond fashion and lifestyle after acquiring Draper James, Outdoor Voices and Jonathan Adler this year, and favoring operators and retailers to build brands.
- Convive Brands will direct global restaurant operations and serve as master franchisor, Jon Weber, chief executive officer of Convive Brands, will serve as CEO of the CPK restaurant group, and Bain Capital Credit provides debt and equity support for the consortium purchase.
- The deal will affect CPK's global footprint, with buyers investing in stores and expanding products sold in more than 10,000 grocery stores, impacting over 120 locations in 10 countries.
- Having filed for bankruptcy in 2020, CPK has been sold multiple times including ownership by PepsiCo, and the sale transfers ownership from a group of lenders to Consortium Brand Partners.
Insights by Ground AI
13 Articles
13 Articles
Consortium buys California Pizza Kitchen for $300 million
·Washington, United States
Read Full Article
Coverage Details
Total News Sources13
Leaning Left1Leaning Right0Center5Last UpdatedBias Distribution83% Center
Bias Distribution
- 83% of the sources are Center
83% Center
L 17%
C 83%
Factuality
To view factuality data please Upgrade to Premium
