Costa Mesa-based California Pizza Kitchen, which has struggled to find its footing since emerging from bankruptcy protection five years ago, could be headed into new ownership, according to Reuters.
Citing sources familiar with the matter, Reuters says the casual dining chain has signed a deal to be acquired for under $300 million by an investor group led by Consortium Brand Partners—a New York firm whose consumer brand investments include Outdoor Voices, Jonathan Adler and Reese Witherspoon-founded Draper James.
The acquisition, if completed, will mark Consortium’s first foray into restaurants.
Representatives for CPK and Consortium did not return a request for comment.
Read more in the Dec. 1 print edition of the Business Journal.
