CALIFORNIA – Consortium Brand Partners announced December 16 that it has entered into a definitive agreement to acquire California Pizza Kitchen (CPK) for a reported $300 million.
Consortium Brand Partners co-founder Jonathan Greller said the partnership aims to expand CPK’s global reach, grocery presence, and product offerings rooted in California creativity and flavor.
Convive Brands, a partner in the acquisition with Le Béet and Le Pain Quotidien in its portfolio, will oversee worldwide operations and serve as master franchisor for all CPK restaurants globally.
Jon Weber, CEO of Convive Brands, will lead the CPK restaurant group as chief executive, overseeing global operations.
“California Pizza Kitchen is a brand with a remarkable history and an even brighter future,” said Weber.
This transaction marks Consortium’s fourth acquisition, following investments including Jonathan Adler, Draper James, and Outdoor Voices.
CPK ownership has changed multiple times
Founded in 1985 in Beverly Hills, CPK introduced diners to the Original BBQ Chicken Pizza.
Today, CPK operates more than 120 restaurants in 10 countries and offers a line of frozen pizzas and other products sold in grocery stores nationwide.
CPK previously restructured through Chapter 11 bankruptcy in 2020 amid pandemic-related disruptions.
The company has changed ownership multiple times since its founding, including PepsiCo’s sale of its majority stake in the late 1990s.
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