Categorized | IPO

Move Over Papa John’s, New Take and Bake Pizza Plans IPO Launch


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Yesterday, both Reuters and Nation’s Restaurant News announced the Vancouver, Washington based Papa Murphy’s is currently preparing to go public. This take and bake pizza franchise has grown greatly over the last few years, putting them alongside fellow dough dishers like Pizza Hut and Domino’s. What could this possibly mean for this popular west coast chain? Will we see this privately owned company start sprouting up locations along the Midwest and East Coast? While Papa Murphy’s and their financial supporters over at Lee Equity Partners were unavailable for any comments, let’s take a look at what else we can learn about this unique pizza franchise.

Take and Bake Pizza? What?

Usually the whole point of “ordering out” is to avoid the hassle of cooking and washing dishes, correct? The downside of this alternative is that dreadful drive home. Unless you literally live around the corner from where you picked up dinner, it’s likely your food will be cold upon arrival. Sometimes this can lead to crispy corners turning soggy and dishes losing their true flavor.

take and bake pizza

(Photo Credit to: Facebook/Papa Murphy’s)

Now, what if I told you that there was a food service who would prepare your exact order, uncooked? That way, there’s no harm done during the travel and you can start cooking whenever you want! It’s that signature point that separates Papa Murphy’s from the other typical pizza franchises. Their goal is for you to enjoy all of the fresh, delicious ingredients that you’ve chosen exactly how you want it. Fresh, hot and right out of the oven.

Will Papa Murphy’s Expand?

Though this take and bake pizza company is just preparing to go public, they have been around for over thirty years. Since 1981, Papa Murphy’s has opened approximately 1,350 locations across the country. There are locations everywhere, from Maryland to Wisconsin, with plenty of roots in California as well. Their menu has evolved, offering cheesy bread, desserts, and an assortment of signature dishes. All of their meals include heating directions so they can be easily be prepared upon arriving home.

(Papa Murphy's in FL - Photo Credit to: Facebook/Papa Murphy's)

(Papa Murphy’s in FL – Photo Credit to: Facebook/Papa Murphy’s)

Their investors, Lee Equity Partners did not come into the picture until 2010, but have evidently assisted Papa Murphy’s in their growth and success. In Monday’s announcement Reuters went on to approximate $800 million in revenue across the entire company including the franchises and corporate headquarters. In 2012 alone, Papa Murphy’s opened almost fifty more locations with over $500k in revenue being reported from each. Needless to say with this once small-time take and bake pizza maker will definitely benefit from going public. Who knows, by this time next year we can easily see the fifth largest pizza chain in America reach the top spot. Maybe Papa Murphy’s will go even international bringing take and bake pizza revolution overseas!

Other Papa Murphy’s Headlines

Throughout my research I also came across some headlines about this take and bake pizza company doing things throughout their communities. I have seen just how important local businesses and organizations are to a community, so it always feels good to see others assisting their’s. In Wisconsin, the local Papa Murphy’s pizza parlor will be taking part in a fundraiser come August. Their sponsored “Pizza Night” will donate a percentage of proceeds to the local Stockton Wa Tan Ye Club, who then uses the donations towards assisting and improving the local community. For you Wisconsin residents looking for more information, click here.

Papa Murphy’s IPO Wrap-Up

 

take and bake pizza

(Photo Credit to: Facebook/Papa Murphy’s)

It will definitely be interesting to see how this particular IPO case plays out. Usually the top players for going public this year has been tech start-ups and smartphone apps. Instead, we have a traditional brick-and-mortar business that has risen to the top in the last thirty years. Furthermore, they found a signature way to set themselves apart with their take and bake pizza approach. Papa Murphy’s has already done quite well setting up shop across the country and should only be able to improve from this point on. With Lee Equity Partners and their ever growing franchise, it seems Papa Murphy’s will definitely be giving Papa John’s a run for their money!

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