MOD Pizza acquired by Elite Restaurant Group

MOD Pizza, the popular build-your-own, fast-casual pizza franchise, has a new owner: Elite Restaurant Group. With 512 locations across 28 states and Canada, MOD Pizza has built a strong following since its launch in Seattle in 2008. Following rumors of bankruptcy or a sale, the company announced the acquisition by Elite Restaurant Group on July 10.

The investment required to open a MOD Pizza location ranges from $1 to $1.3 million, and the company opened 21 stores last year, ending the year with a total of 552 locations. With the acquisition by Elite Restaurant Group, MOD Pizza is expected to strengthen its future and expand its reach even further.

Elite Restaurant Group, led by Michael Nakhleh, also owns other popular brands like Slater’s 50/50 and Gigi’s Cupcakes. This acquisition adds MOD Pizza to its expanding portfolio of restaurant brands. The deal gives Elite 100 percent equity in MOD Pizza, marking a significant step in the growth and development of the popular pizza franchise.

One of MOD Pizza’s core missions is to provide opportunities for people with barriers to employment, including individuals with disabilities and those who were formerly incarcerated. In fact, 99 percent of MOD’s corporate-owned stores have hired employees from these groups. In 2019, over a third of MOD’s workforce came from these employment barrier categories, reflecting the company’s commitment to diversity and inclusivity.

While details about Elite Restaurant Group are scarce due to limited online presence, the company’s acquisition of MOD Pizza signals a new chapter in the story of this beloved pizza brand. With a focus on maintaining MOD’s outstanding culture and loyal customer base, Elite is poised to work with MOD Pizza to continue its success and growth in the coming years.

For more information about MOD Pizza’s acquisition by Elite Restaurant Group and its commitment to providing opportunities for individuals with barriers to employment, visit the company’s website. Stay tuned for updates on MOD Pizza’s future plans and expansion under its new ownership.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Featured Franchise Opportunity

Buffalo Wild Wings

Food Franchises, Restaurant Franchises

MilliCare Franchise

Cleaning Franchises, Low Cost Franchises

1515 Mockingbird Lane, Suite 410