WASHINGTON D.C. — ACON Investments has acquired Peter Piper Inc., a dine-in pizza and entertainment restaurant chain that owns, operates and franchises 132 restaurants throughout the Southwestern United States and Mexico. Terms of the deal were not disclosed
According to a news release, president and chief executive, Frank Sbordone, and other members of Peter Piper's existing management team will continue leading the chain.
"We are excited about partnering with ACON to more fully exploit our growth opportunities, including new restaurant openings in our core and contiguous markets, and expansion of our domestic and international franchise systems," Sbordone said. "As a committed long-term investor with significant experience in the food retail sector and a deep understanding of our target demographic market, ACON is an ideal partner for management as we expand the company's footprint."
Daniel Jinich, ACON managing partner, said Peter Piper's strong unit economics and outstanding same-store sales growth reflects the chain's value to its core customers, many of whom are Hispanic.
"The concept has significant appeal among Hispanics because of its family focus and affordable price points," Jinich said. "We believe that Peter Piper is well positioned to deliver a unique family dining experience to Hispanic and non-Hispanic consumers alike."