Pie Five Pizza Hits "The Big 5-0"
Nation's Leading Fast Casual Pizza Chain Opens 50th Restaurant; Plans to Develop 500 Locations
DALLAS - June 4, 2015 // PRNewswire // - Dallas-based Pie Five Pizza is keeping its eye on the pie as it opens the 50th Pie Five Pizza location in Baltimore, MD this week. With this important milestone, the national fast casual pizza chain continues to rack up momentum and recognition, as it moves closer to its 500 restaurant development goal. This year alone, the brand was recognized as North Texas'fastest growing franchise, #3 on FastCasual.com Movers and Shakers and CEO Randy Gier was selected as a finalist for Ernst & Young's Entrepreneur of the Year.
"We pioneered the fast casual pizza segment and continue very impressive new store development and sales growth," said Randy Gier, chief eating officer of RAVE Restaurant Group, Inc. "With our proven recipe of high quality artisan pizzas, made from farm fresh ingredients baked with lightning speed, we're proud to see so much excitement for Pie Five as we accelerate our nationwide expansion."
Pie Five has grown from one location to 50 in less than four years. The growth rate for the past year alone reached nearly 200 percent with extensive development deals in Michigan, Wisconsin, Pennsylvania, Maryland, Delaware, Arkansas, Missouri and Tennessee. This is in addition to company-owned expansion in Chicago, Houston and Dallas-Fort Worth. By the end of 2015, Pie Five will be at nearly 100 locations nationwide with almost 400 additional company and franchise locations in 24 states in development over the next four years.
"During this period of hyper growth, we continue to invest in the brand," said Gier. "Our retail sales grew 100 percent for the quarter and we added as many company-owned locations as franchised stores. We have committed to growth by adding talent and infrastructure for the expected level of development."
Pie Five Pizza has been named among Fast Casual's Top "Movers and Shakers" for three consecutive years, a 2012 Hot Concepts winner by Nation's Restaurant News and one of "10 Hot New Restaurant Chains from Established Brands" by Forbes.com. The company currently has 50 locations in 15 states and the District of Columbia.
The unique Pie Five model allows patrons to top their pizzas any way they want for one low price. Pies bake in just 145 seconds in a custom-designed, state-of-the-art oven. By the time the guest arrives at the register, their hot, bubbly, pizza perfection is ready. And whether they select from one of Pie Five's specialty recipes or create their own, it's all the same great price. There are millions of possible pizza combinations Pie Five customers can create with four crusts (including artisan thin, classic pan, whole wheat grain Neapolitan and gluten-free), seven sauces and 28 fresh toppings. Additionally, they can add one of Pie Five's freshly-tossed hand-made salads served in a baked pizza dough bowl or a decadent home-baked brownie or cookie pie to their meal.
About Pie Five Pizza Co.
Pie Five is a subsidiary of RAVE Restaurant Group, Inc. (NASDAQ: RAVE), based in Dallas, Texas. RAVE owns, franchises and supplies nearly 300 Pie Five and Pizza Inn restaurants operating domestically and internationally. Pie Five Pizza Co. is the leading brand in the rapidly growing fast-casual pizza space, offering individual handcrafted pizzas with fresh ingredients made to order in less than five minutes. For more information, please visit PieFivePizza.com.
SOURCE Pie Five Pizza Co.