Consortium Brand Partners in group to acquire California Pizza Kitchen
Consortium Brand Partners is diversifying its portfolio, expanding into the food, beverage, and hospitality sectors.
The consumer-focused private investment firm whose retail holdings include Outdoor Voices and Draper James is part of a group that has entered into a deal to acquire California Pizza Kitchen (CPK) for an undisclosed price. Under the terms of the agreement, Consortium Brands will acquire the casual-dining restaurant chain with Eldridge Industries, Aurify Brands and Convive Brands. Bain Capital Credit is supporting the acquisition with a debt and equity investment.
Convive Brands, an investment and operations platform of high-quality restaurant concepts, will direct global operations and serve as master franchisor for all CPK restaurants worldwide. Jon Weber, CEO of Convive, will serve as CEO of the CPK restaurant group, overseeing all restaurant operations globally.
Founded in 1985 in Beverly Hills, Calif., California Pizza Kitchen has a global footprint that includes more than 120 restaurants in 10 countries. It also has a consumer packaged goods business featuring frozen pizzas and other products available in more than 10,000 major grocery retailers nationwide and across the globe.
The brand has also recently launched an innovative pizza vending machine concept, bringing freshly-baked CPK pizzas to airports, campuses, and entertainment venues.
CPK filed for bankruptcy in July 2020 amid COVID-19-related financial issues. It emerged several months later, owned by its lenders.
“California Pizza Kitchen is a brand with a remarkable history and an even brighter future,” said Weber. “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.”
The transaction marks Consortium’s fourth acquisition. The company acquired home decor brand Jonathan Adler in January, activewear brand Outdoor Voices in June 2024 and Draper James, the apparel and lifestyle brand founded by actress Reese Witherspoon brand, in fall 2023.
“The move underscores CBP’s commitment to partnering with established brands that possess strong consumer affinity and scalable growth potential, the company,” stated the press release announcing the acquisition.
“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,” said Jonathan Greller, president and co-founder of CBP.
Aurify Brands served as an advisor on the transaction. Winston & Strawn LLP acted as legal counsel to CBP. Reed Smith LLP served as legal counsel to Eldridge Industries and Convive Brands.
The transaction will close in December 2025.
