News

Round Table Pizza buys back 33 franchise units

August 28, 2005

CONCORD, Calif. — Round Table Pizza Inc. through its wholly owned subsidiary Round Table Development Company, acquired 33 Round Table Pizza restaurants in Oregon and California from its largest franchisee Castle Management, Inc., and affiliated companies. According to a news release, the newly acquired restaurants are located in the Portland, Oregon area, Humboldt County, and from Sacramento, Calif., through Fairfield and into Contra Costa County in the San Francisco Bay Area.

Since 2000, Round Table has increased its number of company-owned restaurants from 37 to 115 restaurants. That total represents more than one-fifth of its 500-unit system.

Historically, Round Table's business focused almost exclusively on franchising. "However, three years ago we decided to increase our level of ownership of restaurants in the Round Table Pizza system to both strengthen our system and increase returns for our employee-owned company," said Round Table President Jim Fletcher. "In addition to realizing the financial benefits of owning and operating restaurants, direct ownership has helped us to raise the bar on operating standards and facilitated the re-franchising of restaurants to strong operators."

According Chief Operating Officer Rob McCourt, while the company isn't planning any more significant acquisitions, it will continue with strategic acquisitions of existing Round Table restaurants, and open additional company stores.

"We have had considerable success when we open up new, comfortable restaurants in new retail centers that are convenient to our customers, and our brand is very strong in the San Joaquin Valley," said McCourt.

Round Table Pizza, Inc. is a private, employee-owned company based in Concord, Calif.