**California Pizza Kitchen Acquired by Investor Group, Poised for New Era of Growth**
Consortium Brand Partners (CBP) is set to usher in a “new era of growth” for California Pizza Kitchen (CPK), the popular casual dining restaurant chain that originated in Beverly Hills in 1985. CBP, in collaboration with Eldridge Industries, Aurify Brands, and Convive Brands, has entered into an agreement to acquire the brand. While financial terms were not officially disclosed, sources report the deal was valued at under $300 million.
The acquisition marks a pivotal moment for CPK, which had been under lender ownership since emerging from Chapter 11 bankruptcy in 2020.
As part of the transition, Jon Weber, CEO of Convive Brands, will lead the newly formed CPK restaurant group as Chief Executive Officer and oversee all restaurant operations on a global scale. Michael Beacham, CPK’s current president, will take charge of the company’s consumer packaged goods division.
“California Pizza Kitchen is a brand with a remarkable history and an even brighter future,” said Weber. “As we look to realize its exceptional potential, our focus remains on honoring CPK’s legacy, empowering the teams who drive its success every day, and welcoming the next generation of guests to experience the flavors and hospitality that will continue to set it apart.”
With the support of its new ownership, CPK is expected to expand its footprint and innovate both in its restaurants and retail operations.
