Aquisition of Vancouver's Papa Murphy's Pizza Chain Completed

According to the Columbian.com, “New York investment firm Lee Equity Partners on Thursday completed its purchase of Vancouver-based Papa Murphy’s International take-and-bake pizza chain from Boston-based Charlesbank Capital Partners.”

“The deal closed for $180 million, according to a source familiar with the transaction. Charlesbank has been the majority owner of Papa Murphy’s since 2004 when it recapitalized the pizza chain’s rapid franchise expansion. The chain operates nearly 1,200 franchised and corporate stores that in 2009, generated $639 million in revenue. Papa Murphy’s was formed in 1995 when its Vancouver founder Terry Collins merged Petaluma, Calif.-based Murphy’s Pizza, which had 54 stores, with Hillsboro, Ore.-based Aldo’s Pizza, which had 86 stores.”