John’s Incredible Pizza Co. Gets $30M LoanMonday, August 5, 2013
Rancho Santa Margarita-based John’s Incredible Pizza Company Inc. got a $30 million loan from a consortium led by New York-based Praesidian Capital.
Praesidian invested $17.4 million, with the rest coming from Chicago-based Kemper Corp. and Brookside Mezzanine Partners, which has offices in Boston and Stamford, Conn.
No equity stake was involved, and John’s Chief Executive John Parlet retains ownership.
John’s operates 10 restaurant locations in California and Oregon. Its restaurants average about 47,000 square feet in size and feature games, rides and other attractions, such as bumper cars and laser tag.
Privately held John’s doesn’t regularly disclose financial information.
It ranked No. 14 on the Business Journal’s list of fastest-growing private companies based in Orange County in 2011, the most recent data available. The chain reported about $56 million in annual sales and 1,400 workers companywide at the time.