MOD Super-Fast Pizza Holdings announced it has successfully closed the acquisition of 13 existing MOD Pizza locations in North Carolina. As of July 27, 2020, MOD has assumed full control of these locations, spread between Charlotte, Wake Forest, Raleigh, Fayetteville and Asheville, adding them to its extensive portfolio of company-owned stores.
The 13 MOD Pizza locations in North Carolina were previously owned and operated by SD Holdings, a multi-brand restaurant franchisee, who filed for bankruptcy in February 2020. Terms of the deal were not disclosed. MOD is offering employment to all eligible employees, ensuring job security for more than 300 MOD Squad members and providing a consistent customer experience during the transition.
“This investment not only protects jobs across North Carolina, but is an incredibly exciting opportunity for us to expand our company-owned portfolio and reinforce our commitment to a well-performing market with plenty of growth potential,” says Scott Svenson, co-founder and chief executive officer, MOD Pizza. “The Squad in North Carolina has done a great job introducing their local communities to the unique MOD experience and our people-first culture, and we look forward to continuing to build on this momentum.”
MOD Pizza, the pioneer of the fast-casual pizza segment, has more than 485 system-wide stores in 28 states. With this acquisition, MOD now has 406 company-owned locations and 82 franchise locations.
