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Carlsbad, Calif.-based Project Pie today announced a partnership with NYC-based Lee Equity Partners, headed by investor Thomas H. Lee. Terms of the transaction were not disclosed.
According to a news release, Lee Equity's access to capital and strategic resources are well suited to accelerate Project Pie's next phase of growth across the U.S. and internationally. Project Pie was developed by James Markham, who founded the company in 2012.
"I could not be more excited about partnering with Lee Equity Partners," Markham said. "In addition to the capital that they plan to invest into Project Pie to support our growth, I am equally excited about being associated with Tom Lee, who has a long-term track record of successful, well-known consumer and retail investments. With their strategic partnership and our collective vision, I have great confidence in our ability to execute our plan to become the leader in the fast casual pizza industry."
Throughout the past 40 years, Lee has invested in excess of $10 billion of capital in more than 100 transactions. His involvement includes brands such as General Nutrition Centers, Dunkin' Brands, Snapple Beverage Corp. and Playtex Products Inc.
"I see the tremendous growth potential for a brand like Project Pie, which is why we're excited to help grow the business alongside James Markham to be the leader in the fast-casual pizza segment. James is a pioneer and visionary in this industry, and we believe that this is a brand and concept which can succeed across the country and internationally," Lee said in the release.
North Point Advisors LLC served as exclusive advisor to Project Pie in the transaction with Davis Wright Tremaine LLP as the company's legal counsel. Lee Equity was represented by Dorsey & Whitney LLP.
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