News

Chuck E. Cheese's acquires 147-unit Peter Piper Pizza

October 17, 2014

Chuck E. Cheese’s parent company CEC Entertainment Inc. has acquired Peter Piper Pizza from affiliates of private equity firm, ACON Investments LLC for an undisclosed sum.

Peter Piper Pizza includes 32 company-owned locations and 115 franchises in the Southwestern US and Mexico.

According to a news release, CEC intends to continue the Peter Piper brand with operation of the current restaurants, in addition to implementing growth initiatives to expand the concept nationally.

"This is a great opportunity to welcome another established brand into our proven portfolio and, by extending our portfolio, further secure CEC as the leader in family fun," CEC CEO Tom Leverton said in the release. "This transaction complements our strategy of accelerating Chuck E. Cheese's growth nationally and globally, while fulfilling our commitment to provide even greater customer experience to children and families. We are confident that this combination will create a world-class team focused on driving hospitality and innovation in our current and future markets, ultimately to the benefit of our valued guests."

"We are confident that Chuck E. Cheese's will uphold the Peter Piper commitment to the families and communities we serve, as well as implement initiatives to expand our brand to new customers. Chuck E. Cheese's has the right combination of new leadership, industry knowledge and financial resources to grow and evolve both of our brands for millennial families,” added Peter Piper CEO Charles Bruce.