Pizza Factory, a West Coast brand with 110 stores and 40 years of franchising under its belt, has a new owner: Tucker’s Farm Corporation, an investment firm based in New York.

Danny Wheeler and Ron Willey founded Pizza Factory in 1979. Most of its locations are in California, with additional stores in Nevada, Idaho and Arizona. It has been owned by CEO Mary Jane Riva since 2012 and generates about $94 million in system sales.

Riva will stay on as the brand’s CEO while the chain will be run by Wonder Franchise, a franchise platform under the Tucker’s Farm umbrella.

“I’ve been part of this system for more than 30 years, and this company means the world to me,” Riva said in a press release. “I chose Wonder because I really felt they were the partner that could help improve and grow the system but would do so in a way that took good care of the brand and the franchisees.”

“The Wonder team is smart, young, and energetic—all things that I love—but the thing that really stood out compared to other groups was the way they asked so many questions,” Riva added. “They didn’t come in with a ‘we know best’ mindset. They truly wanted to learn about Pizza Factory, understand what’s gotten us this far, and build on what we’re doing. The better I’ve gotten to know their team, the more confident I am that Wonder is the right partner and that the next chapter for Pizza Factory will be a great one.”

Adam Lewin, a partner on the private equity team at Tucker’s Farm and CEO of Wonder Enterprises, said the new ownership plans to take Pizza Factory to “the next level.”

“We love the longevity and stability of the system, the passion that MJ and her team have for their franchisees, and the community-focused culture of the brand,” Lewin said. “We feel fortunate to be partnering with someone with as much character and knowledge as MJ and believe there’s a great fit both culturally and in terms of our respective skill sets. We’re excited to have the deal closed so we can now focus on driving value for our franchisees.”

Pizza Factory is currently offering a franchise incentive program to speed up growth. Running through April 1, it’s offering 40% off the franchisee fee, four months of no royalties, and a reduced royalty rate of 4% for the following eight months. Pizza Factory hopes to sign 10 new franchise agreements through the program.

Pizza Factory is also scheduled to open three locations this month in Jackson and Paradise, California, and in Silver Springs, Nevada.

Pizza News