Craveworthy Brands is expanding its portfolio through a deal that will bring more than 160 Papa Gino’s locations under its umbrella and significantly accelerate the growth of Wing It On!
The multi-brand platform signed a definitive agreement to acquire New England Authentic Eats LLC (NEAE), the Massachusetts-based parent company of Papa Gino’s. The transaction is expected to close by December 31.
The acquisition will add approximately $160 million in annual revenue to Craveworthy’s platform, bringing its portfolio to nearly 500 restaurants. Before the transaction, Craveworthy generated more than $300 million in systemwide sales.
A significant component of the deal is a co-branding strategy that will introduce Wing It On! to every Papa Gino’s restaurant across New England. Once completed, the rollout is expected to increase Wing It On!’s footprint from 45 restaurants to more than 145 locations.
The strategy allows Craveworthy to expand the chicken wing concept through an established restaurant network rather than relying entirely on new restaurant development. It also gives Papa Gino’s an additional menu offering that complements its existing pizza business.
“Papa Gino’s is a New England institution. People grew up on this pizza, and we’re going to honor that,” Gregg Majewski, CEO and founder of Craveworthy, said in a statement. “We protect what makes a brand special, then put our full platform behind it. With Wing It On!, we can build on that foundation and bring something new to the table.”
Founded in East Boston in 1961, Papa Gino’s has built a regional following around its handmade pizza and Italian family recipes. The chain filed for bankruptcy in 2018, shuttering nearly 50 units leading up to the court filing. It was later sold to private-equity firm Wynnchurch Capital for $20 million.
Craveworthy plans to preserve the chain’s name, menu, and brand identity following the acquisition.
Wing It On!, founded in Connecticut in 2011, specializes in crispy wings, sauces, and house-made dips. Its Medium Buffalo sauce has earned first-place honors at the National Buffalo Wing Festival for multiple consecutive years.
Craveworthy also intends to use its existing infrastructure to support Papa Gino’s operations and franchise system. The company plans to work with NEAE’s leadership team on purchasing, technology integration, training, and operational processes.
“Pizza and wings belong together. But the menu is only the start,” Majewski said. “We win by taking care of our teams, delivering exceptional hospitality and giving operators the support to build stronger businesses. This deal gives us the opportunity to do that at a much greater scale.”
Craveworthy noted that it wants to pursue additional deals of comparable scale every six to nine months and use its shared operating platform to support acquired brands and create new development opportunities. Over the years, the restaurant group has engaged in several investments, managing partnerships, acquisitions, and joint ventures with outside brands, like The Budlong Hot Chicken, Mongolian Concepts, Soom Soom Mediterranean, Dirty Dough Cookies, Sigri Indian BBQ, Untamed Brands, Fresh Brothers Pizza, Big Chicken, Kinnamōns Bakery, Taffer’s Tavern, and Gregorys Coffee.
Keel Merchant Bank and Keel Advisory served as financial advisors to Craveworthy, with Akerman LLP providing legal counsel. Harrington Park Advisors advised NEAE, while Vedder served as its legal counsel.
