December 22, 2011 // Franchising.com // VANCOUVER, Wash.– Papa Murphy’s International (PMI) announced today that its Company Stores Division – Papa Murphy’s Company Stores, Inc. – has acquired 20 Papa Murphy’s Take ‘N’ Bake Pizza stores. The transaction was completed on Monday, December 19th between PMI and McKinleyville, Calif.-based L&K Hodge, LLC and its assorted partnerships. The acquired stores are located in the Minneapolis, Denver and Colorado Springs markets and increase the company-owned store count to 52.
Papa Murphy’s Chairman and CEO John Barr says the move will strengthen the pizza chain’s penetration in the three markets. “The acquisition complements our current base of stores and fits with our strategy to broaden the Company Stores Division where we have the highest consumer awareness,” said Barr. “The addition will also amplify our ability to test new products as well as train franchise owners entering the system.”
Larry Hodge, president of L&K Hodge, along with his wife Kathy are two of Papa Murphy’s first franchise owners among the 500+ today. After 23 years with the brand, the Hodges are taking steps to reduce their company’s footprint and tighten operations. “It’s simply time to narrow our focus as we set up our sons to take on more responsibility. We’ve been fortunate to experience firsthand the growth and success of this company and we’re all excited for this next phase.”
L&K Hodge and its assorted other partnerships will continue to operate 40 stores across 12 markets.
Papa Murphy's is the fifth-largest pizza chain in the country and a revolutionary of the take 'n' bake pizza segment. Papa Murphy's operates over 1,300 franchised and corporate-owned locations in 37 states and Canada. The Vancouver, Wash.-based company offers custom-made pizzas featuring high-quality, fresh toppings generously layered on pizza dough that is made fresh each morning in each store. By baking Papa Murphy’s pizzas at home, customers get to experience the home-baked aroma of a convenient, delicious meal that the brand is known for. In addition to handmade pizzas, the company offers other take 'n' bake items such as Cheesy Bread, Cinnamon Wheels, and chocolate chip cookie dough. Papa Murphy’s was voted “#1 Rated Pizza Chain” by participants in Zagat Survey’s 2010 and 2011 Fast Food Surveys and is a four-time recipient of Pizza Today’s Chain of the Year award. For more information, visit www.papamurphys.com or go to Facebook at www.facebook.com/papamurphyspizza.
Director, Corporate Communications /Marketing
Papa Murphy's Intl