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Article: Mergers & acquisitions.
- Article from:
- The Food Institute Report
- Article date:
- May 2, 2005
CopyrightCOPYRIGHT 2005 The Food Institute. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CALIFORNIA PIZZA KITCHEN, INC., Los Angeles, agreed to acquire the remaining approximately 75% of LA FOOD SHOW, INC., a one-unit casual dining concept founded by CPK's co-founders and co-CEOs Rick Rosenfield and Larry Flax. Under terms of the stock purchase agreement, California Pizza Kitchen paid $6 million in cash for the remaining equity interest, which was predominantly owned by Mr. Rosenfield and Mr. Flax. On Mar. 8, 2003, the company paid $2 million in cash for a 25% stake in LA Food Show. California Pizza Kitchen operates, licenses or franchises 176 restaurants, 146 of which are company-owned and 30 operate under franchise or license agreements. The casual dining ...
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