The owner of Chuck E. Cheese has acquired Phoenix-based Peter Piper Pizza for an undisclosed price.
Texas-based CEC Entertainment Inc., which owns Chuck E. Cheese, said it intends to continue the Peter Piper Pizza brand and expand it nationally. Peter Piper, a midsized pizza and family entertainment chain, was reportedly put up for sale in July by global private-equity firm Acon Investments, which owned the company for the past seven years.
The Phoenix company ranked 15th among pizza chains, with roughly $171 million in sales for the 12 months ending September 2012, in the latest industry report by PMQ Pizza Magazine. Tucson has 10 restaurants.
Peter Piper recently began rolling out its new logo and upgrades at some of its Phoenix stores and Hispanic communities, a fast-growing segment of the U.S. population. The company has 139 corporate and company-owned locations in the southwest and in Mexico.