California Pizza Kitchen has 120 restaurants in 10 countries. | Photo: Shutterstock
California Pizza Kitchen is getting a new owner. Several, actually.
Investment firm Consortium Brand Partners, along with Eldridge Industries, Convive Brands and Aurify Brands, have an agreement to acquire the 120-unit casual-dining pizza chain. Terms of the deal were not disclosed. It’s expected to close this month.
Consortium will act as the company owner, while Convive—the owner of Le Pain Quotidien and The Little Beet—will lead global operations and franchising, according to a press release. Convive CEO Jon Weber will be CEO of California Pizza Kitchen.
The buyers said they plan to lead the brand into a new era of growth following its recent momentum, which has included same-store sales that outpaced the industry in 2025. They plan to ramp up franchising in the U.S. and abroad, launch new product categories and grow California Pizza Kitchen’s retail business.
Founded in 1985 in Beverly Hills, the chain is known for its unique pizza varieties, such as the signature BBQ Chicken Pizza. It also sells frozen pizzas and salad dressing in more than 10,000 grocery stores. And it recently launched a pizza vending machine for airports, college campuses and other venues.
CPK has been owned by its lenders since filing for bankruptcy in 2020 and was previously owned by Golden Gate Capital, which bought it in 2011 for $470 million. Systemwide U.S. sales declined 12.3% last year, to $406 million, and 17 locations closed, according to Technomic data.
“California Pizza Kitchen is a brand with a remarkable history and an even brighter future,” said Weber in a statement. “As we look to realize its exceptional potential, our focus remains on honoring CPK’s legacy, empowering the teams who drive its success every day, and welcoming the next generation of guests to experience the flavors and hospitality that will continue to set it apart.”
Before joining Convive in 2021, Weber was CEO of Pizza Hut and Wendy’s operator NPC International. Before that, he held operations roles at Applebee’s, Cheddar’s, Hard Rock International and Uno Chicago Grill.
CPK is the fourth acquisition for New York-based Consortium and its first in the food industry. The firm also owns consumer brands Jonathan Adler, Draper James and Outdoor Voices.
“California Pizza Kitchen is an iconic American brand that has inspired generations of fans through creativity, flavor, and innovation,” said Jonathan Greller, president and co-founder of Consortium, in a statement. “We are thrilled to partner with Eldridge Industries, Aurify Brands, and Convive Brands to build on CPK’s rich heritage by expanding its global restaurant footprint, growing its grocery presence, and exploring new product categories that celebrate California creativity and flavor.”
The other three buyers—Convive, Aurify and Eldridge—are all connected. New York-based Aurify previously operated Le Pain Quotidien and The Little Beet. In 2022, the two brands were spun off under the newly created Convive, which is part of Eldridge’s portfolio. Aurify acted as an advisor in the CPK transaction.
California Pizza Kitchen is the latest restaurant brand to be sold amid a flurry of M&A activity. Over the past month, Denny’s, Del Taco, Potbelly, Topgolf, Tijuana Flats, Iron Hill Brewery and HopCat have all changed hands, while other large companies, such as Pizza Hut and MTY Food Group, are on the market.
Reuters first reported that a deal was in place last month.
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