PizzaRev announced Buffalo Wild Wings Inc. has completed a second tranche of its equity investment in the company.
“Buffalo Wild Wings has been an incredible partner for PizzaRev over the last year as we have expanded our market presence and perfected our growth strategy,” says PizzaRev coCEO Rodney Eckerman. “This important second tranche investment will enable us to continue to aggressively pursue corporate and franchised unit growth and bring the unique PizzaRev experience to exciting new markets across the U.S.”
According to food industry research firm, Technomic, fast-casual dining is a $31 billion segment, and fast-casual pizza is one of the fastest growing niches in the space.
“Our thesis that the premium quality pizza segment would quickly emerge as one of the fastest growing and most exciting elements of the fast casual landscape has certainly proven correct. The terrific partnership we have forged with PizzaRev has enabled the cross flow of operational strategies and best practices that have given rise to the clear fast casual pizza category leader” says Kathy Benning, Buffalo Wild Wings executive vice president, chief strategy officer and new business development. “We are very excited about PizzaRev’s significant growth potential and look forward to the continued execution of key milestones in 2014 and beyond.”
PizzaRev currently operates eight Los Angeles area locations, with plans to open an additional seven throughout Southern California in 2014. The company expects 11 franchised units to open this year in California, Minnesota, Utah, Texas, North Dakota, and South Dakota.
