New Capital to Support Continued Rapid Growth Beyond 300 Stores
SEATTLE, WA (January 9, 2018) – MOD Super Fast Pizza Holdings, LLC (“MOD Pizza”, “MOD” or the “Company”), a pioneer of fast casual pizza, today announced that it has raised $33 million of additional equity and closed a new $40 million credit facility. The latest equity funding brings the company’s total equity capital raised to date to more than $185 million. These financings are expected to support MOD’s continued rapid growth in 2018, bolstering its presence in its existing markets across the U.S. and U.K. With the recent opening of its 300th system-wide location, MOD continues to lead the fast casual pizza segment.
The $33 million equity investment was led by existing investors, including PWP Growth Equity and Fidelity Management & Research Company. The $40 million credit facility was arranged by Keybanc Capital Markets, Inc. and SunTrust Robinson Humphrey, Inc., as joint lead arrangers and book runners, and joined by Raymond James.
“We are extremely grateful to Keybanc Capital Markets, SunTrust Robinson Humphrey, Inc., Raymond James and our growing group of equity investors, led by PWP Growth Equity and Fidelity, for their support and belief in MOD,” said Scott Svenson, co-founder and CEO of MOD. “As we enter our tenth year and celebrate the opening of our three hundredth store, we are more energized than ever before about the incredible opportunity in front of us. While it is rewarding to be recognized by our customers as the most loved pizza brand and the number one mid-sized restaurant chain in the U.S., it is the social impact that we are making that provides us with the most gratification. This funding will allow us to continue to grow our business and Spread MODness in 2018 and beyond.”
In 2017, MOD opened 110 stores system-wide, growing its store base by over 57% as it expanded into seven new states. With more than 6,000 MOD Squaders system-wide, MOD is known for its people-first culture and its commitment to provide opportunities to individuals who often face barriers to employment. Through its annual Spreading MODness Week in November 2017, MOD along with its franchisees, donated more than $364,000 to Generosity Feeds. Together, MOD and Generosity Feeds will host 40 meal-packing events around the country with the goal of generating over half a million meals for kids struggling with hunger.
 System-wide includes all company-operated and licensed store locations.
 Foodable Network, May 2017 Most Loved Brands Report.
 Fishbowl Buzz Brands Report October 2017.