California Pizza Kitchen (CPK) is to be acquired by an investor group led by Consortium Brand Partners, with Convive Brands CEO Jon Weber appointed to lead the chain’s restaurant operations, as reported by Reuters.
The deal comes five years after CPK entered bankruptcy during the pandemic, when a sales slowdown and high debt levels led the company to seek protection in July 2020.
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Lenders took ownership of the business following that process.
Under the new structure, Weber – whose Convive Brands is part of the purchasing group – will become CEO of CPK’s restaurant division.
Michael Beacham, currently CPK’s president, will take charge of the consumer packaged goods (CPG) business.
Other members of the investor group include Eldridge Industries, Bain Capital’s credit arm and Aurify Brands.
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By GlobalDataDeal terms were not disclosed, and the transaction is expected to be completed in late December 2025.
CPK was founded 40 years ago in Beverly Hills in the US state of California and operates more than 120 locations around the world.
Reuters reported in November 2025 that the company was nearing an agreement for less than $300m.
For Consortium Brand Partners, the purchase marks its first move into restaurants.
Its existing holdings include activewear brand Outdoor Voices, home décor company Jonathan Adler and lifestyle brand Draper James, established by actor Reese Witherspoon.
Eldridge Industries’ restaurant platform Convive Brands owns Le Pain Quotidien and The Little Beet.
New York City Aurify Brands owns Melt Shop and Fields Good Chicken and is a franchise partner to Five Guys and Wingstop.
Bain Capital Credit is participating by offering debt and equity financing.
The new owners plan to expand CPK’s restaurant footprint in the US and internationally through franchise partners, increase grocery distribution of CPK-branded products through the CPG programme and continue menu development.
In an interview, Consortium Brand Partners founder Cory Baker stated: “CPK has extreme brand loyalty for something that’s been around for so long … and there’s an incredible amount of opportunity left.”
CPK currently sells frozen pizzas via a partnership with Nestlé and salad dressings through manufacturer Litehouse, with products distributed across more than 10,000 grocery retailers worldwide.
