News

Largest Pieology franchisee takes on 21 corporate locations

January 2, 2020

Pieology Pizzeria has refranchised 21 corporate-owned restaurants to one of its largest franchisees, Akash Management, Llc. CEO Amir Siddiqi, who already is a major financial and operating partner for 14 Western locations of the brand. Akash Management is also a Carl's Jr., Arby's, Jamba Juice and WingStop franchisee, a news release said.

"We welcome the Pieology team and its employees to Akash Management," Siddiqi said in a news release. "We believe the Pieology team will be a great addition to our company and will assist us in achieving our long-term strategy. This acquisition demonstrates our ability to enhance our portfolio of operating businesses and brands that maintain similar cultural values and are poised to grow."

Pieology CEO Gregg Imamoto said the transaction is well-time and validates the brand's strategic direction, as well.

"It fits into our strategic plan of continuing to increase system revenues and aligning the brand with key strategic stakeholders," Imamoto said in the release. "This deal is driven around increasing stakeholder value through profitable growth and expansion, and Amir and his team will be active on the development front."

Pieology has more than 130 restaurants in 22 states and internationally.