News

Pizza Inn plants seed for company store growth

January 13, 2011

Pizza Inn Inc. has signed an agreement to expand its term loan credit facility with Amegy Bank to $2.56 million. This move provides more capacity for continued growth of company-owned stores.

The additional available credit will enable the company to add up to six new company restaurants within the next year. Pizza Inn has opened five new company-operated restaurants in the last two years.

"Amegy Bank has been a valuable partner in executing our growth strategy," said Charlie Morrison, president and CEO of Pizza Inn. "The expansion in the facility demonstrates both Pizza Inn's and Amegy's confidence in our new buffet-style restaurant concept."

Amegy Bank of Texas has more than $11 billion in assets. It will serve as a source of capital as well as provide efficient and effective treasury management, international and investment services. The bank has more than 80 locations in Texas and specializes in small business banking.

Pizza Inn is actively seeking new franchisees and encouraging existing franchisees to invest in new locations. The company’s program includes zero royalties the first year of business, and 2 percent during the second year on all franchise agreements for new stores awarded by March 31, 2011.

Pizza Inn, headquartered in the Dallas area, franchises approximately 310 restaurants and owns and operates five units.