Dive Brief:
- Craveworthy Brands has acquired Fresh Brothers Pizza, a 20-unit, California-based pizza chain, the franchising platform said Monday in a press release. The terms of the deal were not disclosed in the press release.
- The acquisition will further diversify the company’s portfolio, which includes over a dozen brands.
- In addition to acquisitions this year, Craveworthy recently set up a joint venture with New Summit Capital Advisors to bring global restaurant brands to the United States.
Dive Insight:
Craveworthy has built up its brands platform through a number of acquisitions this year, buying Sigri Indian BBQ and Untamed Brands, which operates Taim Mediterranean Kitchen and Hot Chicken Takeover, in May. In January, the platform purchased a major stake in Dirty Dough Cookies.
The holding company’s strategy includes “invigorating and supercharging legacy brands while nurturing and growing emerging brands,” according to the press release.
Craveworthy intends to expand Fresh Brothers beyond its Southern California base through franchising, according to the press release.
Fresh Brothers’ menu is fairly broad, encompassing baked wings, vegan, vegetarian and gluten-free pizzas, salads and sliders, in addition to its standard pizza fare; this could help the chain appeal to a wider range of consumers than narrowly focused fast casual pizza competitors.
“Fresh Brothers is a perfect fit for Craveworthy as we expand our roots from the Midwest to the West Coast with our first brick-and-mortar pizza brand,” Gregg Majewski, CEO and founder of Craveworthy Brands, said in the press release.
