Operations

Pizza Factory bought by Wonder Franchises

Photo: Pizza Factory

January 20, 2025

Investment firm Tucker's Farm Corp. has acquired 110-unit Pizza Factory, according to a press release.

The pizza chain will be run by Wonder Franchises, a franchise platform created by Tucker's Farm in 2023. The investment firm launched the franchise vehicle with $30 million in long-term equity capital.

Pizza Factory CEO Mary Jane Riva has opened the brand since 2012 and will remain chief executive under the new ownership team. Pizza Factory partners with 84 franchisees and has roughly $94 million in system sales.

"I've been part of this system for more than 30 years and this company means the world to me," Riva said in the release. "I chose Wonder because I really felt they were the partner that could help improve and grow the system but would do so in a way that took good care of the brand and the franchisees. The Wonder team is smart, young, and energetic — all things that I love — but the thing that really stood out compared to other groups was the way they asked so many questions. They didn't come in with a 'we know best' mindset, they truly wanted to learn about Pizza Factory, understand what's gotten us this far, and build on what we're doing. The better I've gotten to know their team, the more confident I am that Wonder is the right partner and that the next chapter for Pizza Factory will be a great one."

Pizza Factory plans to open three locations in January in California and Nevada.

"We're extremely excited to be acquiring Pizza Factory and to be partnering with MJ to take Pizza Factory to the next level," Adam Levin, CEO of Wonder Franchises, said in the release. "We love the longevity and stability of the system, the passion that MJ and her team have for their franchisees, and the community-focused culture of the brand. We feel fortunate to be partnering with someone with as much character and knowledge as MJ and believe there's a great fit both culturally and in terms of our respective skillsets. We're excited to have the deal closed so we can now focus on driving value for our franchisees."

Terms of the sale were not disclosed.