Overview
- Convive Brands will direct global operations as master franchisor for all California Pizza Kitchen restaurants.
- Convive chief executive Jon Weber will become CEO of the CPK restaurant group, while Michael Beacham will lead the consumer packaged goods division.
- Eldridge Industries and Aurify Brands join the buyer group, with closing expected later this month and the purchase price undisclosed.
- The new owners plan franchise-led restaurant expansion in the U.S. and internationally alongside a larger grocery presence and new product categories.
- California Pizza Kitchen operates about 120 locations in 10 countries and sells branded products in more than 10,000 retailers after emerging from a 2020 Chapter 11 under lender ownership.