PGHC Holdings, Inc., the parent company of the popular New England restaurants Papa Gino's Pizzeria and D'Angelo Grilled Sandwiches, this week announced it received approval to sell its business to an affiliate of Wynnchurch Capital, LLC, a private equity investment firm. The sale, which does not include franchisee locations, is scheduled to close by January 31.
Papa Gino's is New England's hometown, authentic pizza for every occasion, with its signature 3-cheese blend, fresh dough made daily in Walpole, and one-of-a-kind taste, and D'Angelo Grilled Sandwiches is known for serving craveable, hot, fresh grilled favorites like the original Steak Number 9®. The company operates 141 company-owned restaurants in Massachusetts, New Hampshire, Rhode Island, and Connecticut.
"Wynnchurch's investment will enable us to renew our legacy as a community-focused restaurant company, bringing back menu favorites, serving great-tasting, fresh, high quality food, and delivering an outstanding customer experience," said Corey Wendland, Chief Financial Officer of PGHC.
"I'm thrilled that we have a partner committed to revitalizing the brands and positioning us for future growth," said Kathy Cruz, Senior Vice President of Papa Gino's Operations and Brand Services. "Together, we will be working tirelessly on delivering outstanding hospitality, improving service times and producing the best pizza in New England."
"I've been with D'Angelo for twenty-seven years because of our focus on hospitality and relationships - guests have always been at the forefront of every decision made," said Jim Croteau, Senior Vice President of D'Angelo Operations. "I'm very excited about having an opportunity to reboot and focus the operations team on the core values that built this great New England neighborhood sandwich shop."
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