Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, announced today that it has sold its investment in Mountain Mike’s Pizza (“MMP” or the “Company”) to an entity controlled by Chris Britt and Ed St. Geme, the co-CEOs of the Company.
Mountain Mike’s Pizza is a leading franchisor of pizza restaurants with over 245 stores located in California, Oregon, Utah, Arizona, Idaho, and Nevada. The restaurants feature fresh, made-to-order pizzas served in a casual, family-friendly atmosphere. Mountain Mike’s was founded in 1978 and is headquartered in Newport Beach, CA.
Matthew Frankel, Managing Partner of LLCP, said, “The investment in MMP has been extremely successful for LLCP and the Company’s management team. Since our initial investment in 2017, MMP has substantially increased its store count and expanded into several new states. Additionally, we have accelerated value creation through initiatives such as acquiring territory rights, creating a franchise development team, and successfully launching the MMP mobile app. We are excited to see MMP continue to execute its growth plan and wish the Company continued success in the future.”
Mr. Britt commented, “We are very grateful for our successful partnership with LLCP over the past five years. As we look forward to the continued growth of Mountain Mike’s Pizza across the country, the contributions LLCP has made to our strategy and franchising capabilities have been instrumental to our accomplishments to date.” Mr. St. Geme added, “LLCP has been the perfect value-add partner for us, and their people have been great to work with. We will miss their counsel and our collaboration.”
Honigman LLP served as legal counsel to LLCP in connection with the transaction.