Operations

Great Plains Capital takes minority stake in Toppers Pizza

Provided

October 25, 2021

Great Plains Capital LLC has made a long-term minority equity investment in Wisconsin-based Toppers Pizza.

Part of the capital will be used to accelerate its growth plans, according to a press release.

"I couldn't be more excited about our partnership with Great Plains Capital and the impact they will have on our ability to grow — now is our time," Scott Gittrich, Toppers Pizza CEO, said in the release. "Throughout our 30-year history, consumer demand for delivery, technology, smaller restaurants, and 'better' food concepts has continued to grow steadily every single year. The COVID-19 pandemic effectively jolted those trends forward even more. Now, Toppers is perfectly positioned to grow significantly in the next few years. John Dills and the Great Plains Capital team bring resources that make a bright future even brighter."

The Great Plains Capital investment comes as Toppers Pizza continues to grow and reach more customers. The company has driven steadily rising average unit volumes, including 13 consecutive quarters of same store sales increases. In addition to Topper's delicious food, Toppers' well-positioned business model and technology suite have allowed the brand to thrive — 73% of Toppers systemwide sales came in through its proprietary digital platform, 72% came from menu items unique to Toppers, and 70% of off-premise sales came in through its first-party delivery program. These differentiators helped Toppers surpass a $1.1 million systemwide AUV and franchisee prospects are increasingly recognizing the brand's exciting opportunity.

Fueled by this momentum, Toppers is making systemwide investments in franchise development, company store development, increased training and technology innovation. Looking ahead, Toppers plans to open 10 to 12 stores in 2022, followed by 20 to 30 per year in 2023 and 2024.

"Scott and the Toppers' leadership team have built a highly attractive brand and we are thrilled to become their long-term partners," John Dills, CEO of Great Plains Capital, said in the release. "Toppers has been satisfying loyal customers in their home state of Wisconsin for over 30 years. As the restaurant industry continues to evolve, we think Toppers is very well positioned to expand its store network nationally and bring their unique pizzas and menu items to more happy customers."

Toppers Pizza operates 70 locations in the U.S.