The equity injection brings the pizza chain’s total fundraising to $339 million as it prepares to grow to 1,000-plus locations over the next five years.
Seattle-based pizza chain MOD Pizza has taken a huge step toward its goal of reaching 1,000 locations over the next five years thanks to a $160 million cash injection led by private equity firm Clayton, Dubilier & Rice.
According to a Restaurant Business article, this latest funding round comes as the brand posted $398 million in system-wide sales and added 102 new locations in 2018. The additional capital brings MOD Pizza’s fundraising to approximately $339 million. The brand plans to use the additional capital to continue expanding rapidly through the U.S. and internationally.
“Over the past 11 years, we have built MOD upon a conviction that we could build a best-in-class business by putting our people and the communities we serve first,” MOD Pizza co-founder and CEO Scott Svenson said in a statement. “This investment is further validation of our belief that profit and positive social impact can co-exist. We are incredibly energized by the opportunity to work with CD&R to scale the MOD brand, while continuing to build our people-first, purpose-driven culture.”
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