April 02, 2014 // Franchising.com // Los Angeles - PizzaRev announced today that Buffalo Wild Wings, Inc. has completed a second tranche of its equity investment in the Company.
"Buffalo Wild Wings has been an incredible partner for PizzaRev over the last year as we have expanded our market presence and perfected our growth strategy," said PizzaRev co-CEO Rodney Eckerman. "This important second tranche investment will enable us to continue to aggressively pursue corporate and franchised unit growth and bring the unique PizzaRev experience to exciting new markets across the U.S."
According to food industry research firm, Technomic, fast-casual dining is a $31 billion segment, and fast-casual pizza is one of the fastest growing niches in the space.
"Our thesis that the premium quality pizza segment would quickly emerge as one of the fastest growing and most exciting elements of the fast casual landscape has certainly proven correct. The terrific partnership we have forged with PizzaRev has enabled the cross flow of operational strategies and best practices that have given rise to the clear fast casual pizza category leader" said Kathy Benning, Buffalo Wild Wings Executive Vice President, Chief Strategy Officer and New Business Development. "We are very excited about PizzaRev’s significant growth potential and look forward to the continued execution of key milestones in 2014 and beyond."
PizzaRev currently operates eight Los Angeles area locations, with plans to open an additional seven throughout Southern California in 2014. The company expects 11 franchised units to open this year in Calif., Minn., Utah, Texas, Mo. N.D. and S.D.
Buffalo Wild Wings, Inc. (NASDAQ: BWLD), founded in 1982 and headquartered in Minneapolis, Minnesota, is a growing owner, operator and franchisor of Buffalo Wild Wings® restaurants featuring a variety of boldly flavored, made-to-order menu items including its namesake Buffalo, New York-style chicken wings. The Buffalo Wild Wings menu specializes in 21 mouth-watering signature sauces and seasonings with flavor sensations ranging from Sweet BBQ™ to Blazin'®. Guests enjoy a welcoming neighborhood atmosphere that includes an extensive multi-media system for watching their favorite sporting events. Buffalo Wild Wings is the recipient of hundreds of "Best Wings" and "Best Sports Bar" awards from across the country. There are currently more than 1,000 Buffalo Wild Wings locations across all 50 states in the United States, as well as in Canada and Mexico.
PizzaRev is a "build-your-own" fast-casual pizza concept that has reinvented the way America eats its favorite food. Guests are empowered to fully customize a personal-sized 11" pizza for under $8. Homemade dough options, flavorful sauces, delicious cheeses, and over 30+ fresh toppings, everything is on display at PizzaRev and assembled right before your eyes. The pizzas are then fired in a 900 degree, stone-hearth oven which produces a thin and crispy Roman-style pizza in just three minutes.
Los Angeles-based PizzaRev was founded in 2012 by longtime entertainment industry executives Irv Zuckerman and Rodney Eckerman, along with their sons, Nicholas Eckerman and Jeff Zuckerman. The executive team possesses a combination of Fortune 500 operating experience and high-profile restaurant management. PizzaRev is currently franchising and announced a strategic partnership with Buffalo Wild Wings in 2013. The company currently operates eight corporate restaurants with additional franchise locations under development in Minn., Utah, N.D., S.D., Mo., Texas, and Orange County and San Diego in Calif.
Visit www.PizzaRev.com for company news, videos and updated location information.
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