Craveworthy Brands has expanded its growing restaurant portfolio with the acquisition of Fresh Brothers Pizza, the Chicago-based group said Monday.
Scott and Adam Goldberg founded Fresh Brothers in Southern California in 2008, offering Chicago-style tavern pizza, but with a focus on fresh ingredients. There are currently 22 locations of the chain in Los Angeles, San Diego, and Orange County offering vegan and gluten-free options, as well as those with gluten, meat, and cheese. Fresh Brothers also offers salads, baked wings, sweet and savory dough knots, and sliders.
In a release announcing the acquisition, Craveworthy said it would expand the brand through franchising.
The purchase of Fresh Brothers, Craveworthy’s 15th brand, comes on the heels of Craveworthy creating Global Taste Brands, a joint venture with private equity firm New Summit Capital to bring international concepts to the United States.
Craveworthy founder and chief executive officer Gregg Majewski said the acquisition of Fresh Brothers would help the parent company expand its national footprint.
"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," Majewski said in a statement. "With over 20 locations and a commitment to the best quality ingredients, Fresh Brothers puts a unique spin on an all-time favorite consumer category by offering inclusive menu options that appeal to today's diverse dining preferences.
"This acquisition not only diversifies our brand portfolio but strengthens our commitment to thoughtful growth, bringing something truly special to our guests and future franchise partners," he added.
Peter Nolan of Nolan Capital, Fresh Brothers’ investment partner until this purchase, said he thought the acquisition would benefit the pizza brand.
"We're incredibly proud to have been stewards of such an iconic Southern California brand," Nolan said. "With Craveworthy's expertise and resources, we're confident Fresh Brothers will continue to expand and deliver a best-in-class experience to its customers. We look forward to cheering them on as they enter this next chapter of growth."
Morgan Kingston Advisors was Fresh Brothers’ financial advisor in the sale and Harrington Park Advisors played that role for Craveworthy. Amundsen Davis was its legal counsel.
Craveworthy is also the parent company of BD’s Mongolian Grill, Dirty Dough, Flat Top Grill, Genghis Grill, Krafted Burger Bar + Tap, Lucky Cat Poke Co., Pastizza Pizza & Pasta, Scramblin’ Ed’s, Sigri Indian BBQ, Soom Soom Mediterranean, The Budlong Southern Chicken, Wing It On! and, most recently, Taim Mediterranean Kitchen, and Hot Chicken Takeover.
Contact Bret Thorn at [email protected]
