Washington – Washington, D.C.-based &pizza, known for its gourmet handmade pies, inventive flavour combinations and localized store design, has received a $10 million investment for growth and expansion.
Avalt, a family-office investment firm, which has also invested in Outback Steakhouse, Domino’s Pizza and Dunkin’ Donuts, led the investment, Nation’s Restaurant News reported, noting that existing shareholders of &pizza also participated in the funding round and a $10 million investment was made in 2015.
The brand plans to use the investment along with the investors’ experience in branded consumer retail for expansion of its stores in key cities, &pizza said in a news release. The franchise has nine locations in the Washington, D.C., metropolitan area, and with six more slated to open in the first half of 2015 in Barracks Row, Chinatown, Dupont Circle South, North Bethesda, Maryland and within Reagan National and Dulles International Airports.
Founded in 2012 in Washington D.C.’s historic H Street NE corridor, &pizza founders Steve Salis and Michael Lastoria set out to create a different kind of pizza shop where experience is the focal point, and every shop reflects the culture and people of its neighbourhood. Employees are called Tribe Members. It serves a variety of housemade and branded wines, hand-crafted sodas, salads and desserts.
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