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Love at 425°
|Traded as||NASDAQ: FRSH|
|Industry||Quick Service restaurants|
Number of locations
|Weldon Spangler (CEO)|
Papa Murphy's, a business based in Vancouver, Washington, United States, is a take-and-bake pizza company. It began in 1995 as the merger of two 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.[not in citation given]
The chain of take and bake pizzerias traces its 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. 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,[not in citation given] and was also winner of Pizza Today's 2001, 2006, 2008, and 2009 Chain of the Year. Papa Murphy’s Pizza was voted #1 Rated Pizza Chain for the third consecutive year, according to more than 10,500 respondents, in Zagat’s 2012 Fast-Food Survey. In 2013 QSR (Quick Service Restaurant) Magazine, recognized Papa Murphy’s with a 2013 Franchisee Satisfaction Award  and in 2014 as top Top Pizza Chain and was rated first for both quality and healthy food.
In 2010, the chain sold out to Lee Equity Partners of New York. Sales for the chain totaled $702 million in 2011, which grew to $800 million in 2012 from 1,350 outlets. 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. Official plans for the IPO were announced in March 2014. Following a loss in the third quarter of 2016, the company announced that it would launch its first national advertising campaign in 2017.
Initial public offering
Papa Murphy's (FRSH) was added to the Nasdaq May 2, 2014, raising $64.1 million in shares.
Orders are available by walk-in, order online, or call-in. Some stores have a drive-thru window where customers can pick up call-in orders. Unlike regular pizza establishments, the pizza is made at the store but is not baked there. Instead, consumers bake the pizzas at their homes. 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.[not in citation given] Papa Murphy's also offers salads, chocolate chip cookie dough, cheesy bread, cinnamon wheels, smores dessert pizzas, and soft drinks in various sizes.
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