Pizza Pizza buys Canadian Pizza 73 for $70.3 Million

According to a report from 570news.com in Toronto, Canada, “Canadian pizza lovers may soon get a price break as the country’s major chains battle it out for a slice of an increasingly competitive market.”

The article said, “Pizza Pizza, the behemoth central Canadian pizza maker, launched a cross-country food fight Thursday, aiming to take a bite out of the West’s burgeoning fast-food market through the acquisition of Edmonton-based Flying Pizza 73 Inc.”

According to the article, “Industry watchers suggest that the pizza industry could be positioning itself for an all-out price war as the big names duke it out for market share by cutting prices and bundling up drinks and desserts to appeal to hungry consumers.”

The report stated: “Thursday’s announcement marks a step in Pizza Pizza’s longtime plan to shift outside its primary base in Ontario and Quebec where it’s the dominant provider with 350 locations.”

Pizza Pizza Chief Marketing Office Pat Finelli said Pizza 73 will keep its strong brand name but will still be a part of the Pizza Pizza family.

Click Here for Original Article