Global Franchise Group announced Friday it acquired Round Table Pizza in a move that will give the strategic brand management company close to $1 billion in systemwide sales and about 1,500 stores in its portfolio.

Global Franchise Group is a franchisor of Great American Cookies, Hot Dog on a Stick, Pretzelmaker, and Marble Slab Creamery/MaggieMoo’s Ice Cream & Treatery. Round Table Pizza encompasses its eponymous concept as well as Round Table Clubhouse and Round Table Pizza Wings Brew. There are 440 U.S. locations in seven states and 10 international stores. Terms of the deal were not disclosed.

“Global Franchise Group has successfully grown both organically and via acquisition. We know how to champion brands and operate and support profitable concepts to take them to the next level. Round Table Pizza is an iconic pizza brand with a loyal consumer base, a strong franchise community and superior products— consistent with everything Global Franchise Group stands for,” said Chris M. Dull, president and CEO of Global Franchise Group, in a statement. “We have high expectations for Round Table’s integration into GFG as it’s a ‘center of the plate’ concept, has over $1 million in AUVs for its traditional dine-in concept, and has potential to integrate into our manufacturing facility in Atlanta.”

The Round Table Franchise Corporation’s 2017 Franchise Disclosure Document showed that the 393 traditional dine-in units (331 were franchised and 62 affiliated owned) had average sales of $1,025,448 during the 2016 calendar year.

GFG said it plans to invest in menu and technology innovations, build out franchisee support, develop people, and remodel restaurants. The move increases the company’s corporate store vertical by adding 70 stores for a total of 140.

“Round Table Pizza has become a standard in the industry and Global Franchise Group’s acquisition of our famous and respected brand provides market validation of a tremendous accomplishment by our employees, franchisees and everyone involved in the success of Round Table Pizza,” said Rob McCourt, CEO and president of Round Table Pizza, in a statement.

Round Table Pizza was founded by Bill Larson in 1959 in the San Francisco Bay area.

Jack Robertson, chairman of the board of Round Table Pizza added, “Round Table employee owners have seen a dramatic increase in their equity over the last six years and this deal allows them to reap the rewards of their hard work and dedication to making Round Table pizza what it is today and getting the brand to this moment.”

Gulf News reported Friday that Round Table Pizza Dubai, the local franchise of the U.S. company, permanently closed all seven locations in Dubai. No reason was given for the closures.

Round Table Pizza emerged out of bankruptcy in December 2011 after it filed for Chapter 11 protection the previous February. The company was 100 percent owned by current and former employees. It renegotiated leases and closed 22 stores during the bankruptcy. The company paid its vendors 100 percent of past due obligations in the process.

GFG Management, LLC is a subsidiary of Global Franchise Group, LLC. Global Franchise Group, LLC is a portfolio company of Levine Leichtman Capital Partners, an independent investment firm, with approximately $9 billion of capital under management and substantial franchise management experience.

Finance, News, Round Table Pizza