Pioneer of Fast-Casual Pizza Acquires Previously Franchised Stores Reinforces Commitment to North Carolina Market
SEATTLE – JULY 28, 2020 – MOD Super-Fast Pizza Holdings, LLC (“MOD Pizza”, “MOD” or the “Company”) today announced it has successfully closed the acquisition of 13 existing MOD Pizza locations in North Carolina. As of July 27, 2020, MOD has assumed full control of these locations, spread between Charlotte, Wake Forest, Raleigh, Fayetteville and Asheville, adding them to its extensive portfolio of company-owned stores.
The 13 MOD Pizza locations in North Carolina were previously owned and operated by SD Holdings, a multi-brand restaurant franchisee, who filed for bankruptcy in February 2020. Terms of the deal were not disclosed. MOD is offering employment to all eligible employees, ensuring job security for more than 300 MOD Squad members and providing a consistent customer experience during the transition.
“This investment not only protects jobs across North Carolina, but is an incredibly exciting opportunity for us to expand our company-owned portfolio and reinforce our commitment to a well-performing market with plenty of growth potential,” said Scott Svenson, co-founder and chief executive officer, MOD Pizza. “The Squad in North Carolina has done a great job introducing their local communities to the unique MOD experience and our people-first culture, and we look forward to continuing to build on this momentum.”
MOD Pizza, the pioneer of the fast-casual pizza segment, has more than 485 system-wide stores in 28 states. With this acquisition, MOD now has 406 company-owned locations and 82 franchise locations.
ABOUT MOD PIZZA
MOD is a purpose-led, people-first brand founded in Seattle in 2008 by serial entrepreneurs Scott and Ally Svenson. MOD Pizza serves individual artisan-style pizzas and salads that are made on demand, allowing customers to create their own pizzas and salads with any combination of over 30 toppings, all for one incredible price based on size. With 485+ locations system-wide, MOD is committed to creating not only a cool place to eat, but an inspired place to work. MOD recently earned a spot on the Fortune 2019 “Change the World” list, for its purpose-led culture and commitment to provide opportunities to individuals with barriers to employment. The Company has also been named America’s fastest growing chain restaurant by Technomic for four years running and named the most loved pizza brand by Foodable Network. MOD has earned a spot on the Inc.5000 list and has been recognized by Fortune as one of the “20 Best Workplaces in Retail,” a “Best Workplace for Women,” a “Best Workplace for Millennials,” and a “Best Workplace for Diversity.” For more information, please visit www.modpizza.com or connect with the brand via Facebook, Twitter or Instagram.
The trademarks MOD, MOD Pizza, and the MOD Shield, are owned by MOD Super Fast Pizza, LLC.
# # #