Who Owns California Pizza Kitchen?

Rick Rosenfield and Larry Flax founded California Pizza Kitchen in 1985 in Beverly Hills, California. The two founders were former federal prosecutors with no prior restaurant industry experience. Their concept was simple: apply the fresh, creative approach of California cuisine to pizza. The original location on Beverly Drive introduced gourmet pizzas with toppings that were unconventional for American pizza restaurants at the time.

The BBQ Chicken Pizza became CPK's signature item and one of the most copied pizzas in the American restaurant industry. The Thai Chicken Pizza, combining peanut sauce with chicken and Asian-inspired toppings, was similarly novel for 1985. These items differentiated CPK from traditional pizza chains and established the brand as a pioneer of the gourmet pizza category.

CPK expanded rapidly through the late 1980s and 1990s. The chain went public on the Nasdaq stock exchange in 1993 under the ticker CPKI, raising capital for continued growth. By the 2000s, CPK operated more than 250 locations and had developed a significant international presence through franchised and licensed restaurants in Asia, the Middle East, and other markets.

The brand also expanded beyond restaurants into grocery stores. CPK licensed its brand for a line of frozen pizzas, which became a significant revenue stream. Nestle owned the frozen pizza license for years before CPK reacquired it, allowing the company to control its retail presence directly.

In 2011, Golden Gate Capital, a San Francisco-based private equity firm, acquired CPK for approximately $470 million and took the company private. Under Golden Gate's ownership, the chain faced mounting challenges. The casual dining segment was losing ground to fast-casual competitors. Golden Gate loaded the company with debt, limiting its ability to invest in operations and growth.

By 2020, CPK was already financially weakened when the COVID-19 pandemic hit. The pandemic forced temporary closures of most locations and eliminated dine-in revenue. In July 2020, CPK filed for Chapter 11 bankruptcy protection, listing liabilities exceeding $400 million. The company emerged from bankruptcy in November 2020 after shedding debt and closing underperforming locations. The restructuring reduced the unit count well below its peak.

From 2020 through 2025, CPK operated under creditor control. The chain contracted further, settling at approximately 120 restaurants by the time the Consortium Brand Partners deal was announced. During this period, CPK focused on stabilizing operations and adapting to post-pandemic consumer preferences.

In December 2025, Consortium Brand Partners, together with Eldridge Industries, Aurify Brands, and Convive Brands, acquired CPK for approximately $300 million. The deal was CBP's first acquisition in the restaurant sector. Convive Brands CEO Jon Weber took over as CEO of CPK, bringing experience from Le Pain Quotidien's own post-bankruptcy turnaround.