Amergent Hospitality Group Inc., owner, operator and franchisor of multiple nationally-recognized restaurant brands, announced it has acquired fast casual restaurant concept PizzaRev.
Amergent through its wholly owned subsidiary Pie Squared Holdings will operate three company owned stores and have nine franchise locations. PizzaRev serves award-winning custom-crafted personal-sized pizzas that are oven-fired in 3 minutes with unlimited toppings for one set price. The concept is about "Crafting Your Own" personal pizza that is prepared in a gas fired oven at 900 degrees as well as offering a variety of salads, beverages and desserts.
Amergent's President, Fred Glick, says, "We're excited to have now entered the pizza category with the acquisition of a brand leader in PizzaRev and bringing in experienced PizzaRev operator, Matthew Avila as brand leader. As noted by our recent announcement of opening of a new Little Big Burger location at the University of Oregon, we are back in growth mode. By entering the pizza space via this initial acquisition, Amergent will have the ability to identify additional pizza concepts to acquire and operate. We anticipate numerous synergies including improved franchisee support, shared information technology, supply chain efficiencies, improved sales and marketing, research and development, complementary geographies and customers, and enhanced employee opportunity."
Glick continues, "The pizza segment, armed with a familiar, affordable, highly deliverable product plus a long history of investment in delivery platforms has performed markedly better than the restaurant industry as a whole."
Mike Pruitt, Amergent's CEO adds, "We are clearly very pleased to announce the acquisition of PizzaRev, especially on the heals of our recent profitable quarter. In addition to strong results on our core business, we expect this acquisition to be immediately accretive and lay the groundwork for additional future like opportunities, some already in process. We continue to focus on assets whose value can be unlocked inside of our public platform, which will result in greater scale and synergies."
Before the acquisition, Amergent's operations include 37 stores, consisting of 28 company owned and 9 franchised locations. The company's brands include Little Big Burger, Burgers Grilled Right, American Burger Company, one Hooters, and the Owls Nest gaming location.