Papa Murphy's
 | This article contains content that is written like an advertisement. (September 2017) |
 | |
 A Papa Murphy's in Gillette, Wyoming | |
| Company type | Private company |
|---|---|
| Industry | Fast food restaurants |
| Founded | 1995 |
| Fate | Acquired by MTY Food Group |
| Headquarters | Vancouver, Washington |
Number of locations | 1,500+ |
Key people | Weldon Spangler (CEO) |
| Products | Pizza |
| Revenue | $800 million |
| Website | papamurphys |
Papa Murphy's is a take-and-bake pizza company based in Vancouver, Washington.[1] It began in 1995 as the merger of two local take-and-bake pizza companies: Papa Aldo's Pizza (founded in 1981) and Murphy's Pizza (founded in 1984). The company and its franchisees operate more than 1,300 outlets in the United States and Canada. Papa Murphy's is the fifth-largest pizza chain in the United States.[2][failed verification] In April 2019, it was announced that the company will be acquired by MTY Food Group for $190 million.[3]
History
The chain of take and bake pizzerias traces it history back to 1981, when the Papa Aldo's Pizza chain was founded in Hillsboro, Oregon. Three years later, Murphy's Pizza chain began operating in Petaluma, California. Both chains were later acquired and consolidated by Terry Collins into Papa Murphy's. The chain was incorporated as Papa Murphy's International, Inc. In 2003, Papa Murphy's was voted "Best Pizza Chain in America" by Restaurants and Institutions Magazine.[4] The company was merged with PMI Holdings, Inc. in 2004.
Papa Murphy's won the platinum award for Consumers’ First Choice in pizza chains in 2006,[5][failed verification] and was also winner of Pizza Today's 2001, 2006, 2008, and 2009 Chain of the Year. Papa Murphy's Pizza was voted No. 1 Rated Pizza Chain for the third consecutive year, according to more than 10,500 respondents, in Zagat's 2012 Fast-Food Survey.[6] In 2013 QSR (Quick Service Restaurant) Magazine,[7] recognized Papa Murphy's with a 2013 Franchisee Satisfaction Award[8] and in 2014 as top Top Pizza Chain and was rated first for both quality and healthy food.[9]
In 2010, the chain sold out to Lee Equity Partners of New York City.[10][11] Sales for the chain totaled $702 million in 2011,[12] which grew to $800 million in 2012 from 1,350 outlets.[13] Reuters reported in 2013 that Papa Murphy's New York parent, Lee Equity Partners, was preparing a public offering for the take-and-bake pizza chain.[14] Official plans for the IPO were announced in March 2014.[15]
Papa Murphy's (FRSH) was added to the Nasdaq May 2, 2014, raising $64.1 million in shares.[16]
Following a loss in the third quarter of 2016, the company announced that it would launch its first national advertising campaign in 2017.[17]
By the 2017–2018 timeframe, the franchisor was struggling, dipping in and out of losses and profitability. In May 2019, it was taken over by Canadian private food conglomerate, and removed from the NASDAQ.[18]
Operations
Orders are available by walk-in, online order, or call-in. Some stores have a drive-thru window where customers can pick up call-in orders. Unlike regular pizza establishments, the pizzas are made at the store but are not baked there. Instead, customers bake the pizzas at home. According to Nation's Restaurant News, take-and-bake pizzerias typically have lower costs because they require less restaurant space and equipment. As a result, they are often able to undercut the national pizza giants.[19][failed verification] Papa Murphy's also offers salads, chocolate chip cookie dough, cheesy bread, cinnamon wheels, smores dessert bars, and soft drinks in various sizes.
Franchise
Papa Murphy's ranked No. 5 on Forbes magazine's list of the top 20 restaurant franchises to buy in 2011.[20][21]
See also
References
- ^ "Papa Murphy's Take 'N' Bake Pizza". PizzaMarketplace.com. Archived from the original on February 5, 2007. Retrieved February 5, 2007.
- ^ Press Room | Papa Murphy's
- ^ Rogoway, Mike (April 11, 2019). "Papa Murphy's sells to Canadian firm for $190 million". The Oregonian. Retrieved April 16, 2019.
- ^ Papa Murphy's International, Inc. – Company History
- ^ "Consumers' Choice in Chains – Restaurants & Institutions". Archived from the original on January 25, 2007. Retrieved February 5, 2007.
- ^ "Zagat's: Papa Murphy's top pizza chain".
- ^ Quick-Service and Fast Casual Restaurant News and Information – QSR magazine
- ^ Papa Murphy’s Wins Award for Franchisee Satisfaction – Restaurant News – QSR magazine
- ^ New Study Reveals America’s Favorite Quick-Service Chains – Restaurant News – QSR magazine
- ^ "Papa Murphy's sold to NY-based Lee Equity Partners". The Oregonian. The Oregonian. April 1, 2010. Retrieved April 1, 2010.
- ^ "Vancouver-based Papa Murphy's sale wraps up". The Oregonian. May 6, 2010. Retrieved May 7, 2010.
- ^ Culverwell, Wendy (November 16, 2012). "Papa Murphy's adds first local store in four years". Portland Business Journal. Retrieved November 18, 2012.
- ^ Culverwell, Wendy (July 30, 2013). "An IPO for Papa Murphy's?". Portland Business Journal. Retrieved July 31, 2013.
- ^ "An IPO for Papa Murphy's?".
- ^ Stevens, Suzanne (March 12, 2014). "Papa Murphy's announces plans for an IPO". Portland Business Journal. Retrieved March 13, 2014.
- ^ Papa Murphy's shares rise modestly on public debut | Corporate News content from Nation's Restaurant News
- ^ Jennings, Lisa (November 2, 2016). "Papa Murphy's to launch first-ever national ad campaign in 2017". Retrieved November 4, 2016.
- ^ Sniegowski, Don. "Canada's MTY Buys Troubled Papa Murphy's". Retrieved March 25, 2020.
- ^ "Take-n-Bake Pizza Concepts Expand East; Papa Murphy's Leads the Way".
- ^ Papa Murphy’s chain named to Forbes franchise list | The Columbian
- ^ Davis, Levi; Farrell, Maureen (January 18, 2011). "In Pictures: The Top 20 Franchises To Start". Forbes.
