Industry News | May 23, 2017

Former McDonald's CEO Invests in Pizza Fast Casual

Cleveland Avenue LLC, a Chicago-based accelerator that strategically invests in innovative, consumer-focused restaurant, food, and beverage concepts, announced a strategic partnership and majority investment in the PizzaRev restaurant chain, based in Los Angeles. The chain offers customers a “Craft Your Own” pizza fast-casual dining experience in dozens of locations across the U.S., with 200 in development.

“This is more than an investment; this is a partnership,” says Don Thompson, founder and CEO of Cleveland Avenue and former CEO of McDonald's. “Our mission is to provide collaborative expertise and educational, practical, and financial resources to our network of entrepreneurs and industry partners. We’re delighted to join forces with PizzaRev and begin working together toward achieving long-term sustained success.”

PizzaRev’s cofounder and co-CEO, Nicholas Eckerman, says the company shares a common vision with Cleveland Avenue to take PizzaRev to the next level, while keeping customers top of mind.

“Our focus is always on our customers and giving them delicious, unexpected, and quality choices in this pizza revolution we’ve created,” Eckerman says. “Cleveland Avenue’s team has the industry expertise, versatile resources, and strategic vision we need at this crucial juncture in PizzaRev’s growth.”

“We’re attracted to PizzaRev because of its potential for scale and growth,” Thompson says.

News and information presented in this release has not been corroborated by QSR, Food News Media, or Journalistic, Inc.