Photo

Reuters Photojournalism

Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography.  See more | Photo caption 

Photo

Down in the mines

A look inside the mines of Poland's state-controlled JSW company, the biggest coking coal producer in the European Union.  Slideshow 

Photo

Inside Ariel Castro's house

Inside the Cleveland home of Ariel Castro.  Slideshow 

Sponsored Links

Pizza chain Papa Murphy's prepares for IPO: sources

Mon Jul 29, 2013 8:57am EDT

(Reuters) - Pizza chain Papa Murphy's is close to selecting banks for an initial public offering that could come later this year, according to three sources familiar with the matter.

The Vancouver, Washington-based company, best known for its "take n' bake" pizzas, has been owned by private equity firm Lee Equity Partners since 2010.

Papa Murphy's could not be reached for comment. Lee Equity Partners declined to comment.

Founded in 1981, Papa Murphy's has around 1,350 stores -- the majority of which are franchised -- and is the fifth largest pizza chain in the U.S. Besides pizzas, the chain also sells salads, cheesy bread, cinnamon wheels and chocolate chip cookie dough.

Papa Murphy's has roughly $800 million in revenue across corporate and franchised stores. Lee Equity Partners, founded by billionaire private equity executive Thomas H. Lee, acquired the firm for an undisclosed amount from private equity firm Charlesbank Capital Partners.

Unlike competitors Pizza Hut, Papa John's International Inc (PZZA.O) and Domino's Pizza Inc (DPZ.N), Papa Murphy's doesn't deliver. Rather, customers buy uncooked pizzas with their selected toppings and then bake the pizzas at home.

(Reporting by Olivia Oran in New York)

 
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Comments (0)
Be the first to comment on reuters.com.
Add yours using the box above.