Bermuda-based value-oriented investment holding vehicle Tucker’s Farm has expanded its franchise portfolio with the acquisition of Pizza Factory.
The deal was executed through Tucker’s Farm’s franchisor platform, Wonder Franchises.
Go deeper with GlobalData
Pizza Factory, a US-based quick-service restaurant franchisor, has $94m in system sales, 84 franchisees and 110 restaurants.
Founded in 1979 by Danny Wheeler and Ron Willey, Pizza Factory has been under the leadership of owner and CEO Mary Jane Riva since 2012.
Riva will continue her role as CEO following the acquisition.
Wonder Franchises CEO and Tucker’s Farm partner Adam Lewin said: “We’re extremely excited to be acquiring Pizza Factory and to be partnering with MJ to take Pizza Factory to the next level. 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.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“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.”
In 2023, Tucker’s Farm launched Wonder with $30m of committed, long-term equity capital.
Wonder’s mission is to partner with and acquire emerging to mid-size brands, prioritising long-term growth.
The acquisition of Pizza Factory marks the third significant franchise transaction for Tucker’s Farm in recent months.
Tucker’s Farm’s portfolio company VIO Med Spa, a med spa franchisor, was sold to Freeman Spogli in September 2024. In November, Wonder acquired the Decor Group, the leading holiday decorating franchisor with 245 franchised territories and $75m in system sales.
Financial advisory firm Boxwood Partners and legal counsel Lathrop GPM supported Wonder Franchises and Tucker’s Farm in the transaction.
The Montminy Group, led by Joel Montminy, served as financial advisor, while Bryan Cave Leighton Paisner provided legal counsel to Pizza Factory.
Pizza Factory CEO MJ Riva said: “I’ve been part of this system for more than 30 years and this company means the world to me. 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.”
