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đź”´ PRIVATE EQUITY OWNED
California Pizza Kitchen
casual dining · Los Angeles, CA
PE Firm
Consortium Brand Partners / Eldridge Industries
Acquirer
Consortium Brand Partners, Eldridge Industries, Aurify Brands
Year Acquired
2025
“Four investment groups to run a pizza chain. What could go wrong?”
The PE Playbook
- •Sold to a consortium of four groups in December 2025 for less than $300 million
- •Previously went through bankruptcy in 2020 during the pandemic
- •120+ restaurants in 10 countries now managed by operators of Le Pain Quotidien
- •Multiple ownership changes in five years — the restaurant equivalent of a foster home
Since the Acquisition
- â–¸Filed for Chapter 11 in July 2020 and closed approximately 57 locations, shrinking from 240 to roughly 200 restaurants
- ▸Customers reported declining portion sizes — a full-sized salad weighing only 11 ounces for $14.50
- ▸No qualified bidders at the bankruptcy auction — no one was willing to buy the PE-burdened chain at any price