Papa Murphy's

Last updated

Papa Murphy's Holdings, Inc.
Company typeSubsidiary
Industry Fast food restaurants
Founded1981;43 years ago (1981)
Headquarters Vancouver, Washington
Number of locations
1,500+
Key people
 Eric Lefebvre (CEO)
Products Pizza
Revenue$800 million
Parent MTY Food Group
Website papamurphys.com

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, Canada and the United Arab Emirates. In April 2019, it was announced that the company would be acquired by MTY Food Group for $190 million. [2]

Contents

History

The chain of 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. [3] The company was merged with PMI Holdings, Inc. in 2004. [4]

A Papa Murphy's located in Parkville, Missouri. Pictured in 2021. Papa Murphy's 64.jpg
A Papa Murphy's located in Parkville, Missouri. Pictured in 2021.

In 2010, the chain sold out to Lee Equity Partners of New York City. [5] [6] Sales for the chain totaled $702 million in 2011, [7] which grew to $800 million in 2012 from 1,350 outlets. [8] 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. [9] Official plans for the IPO were announced in March 2014. [10]

Papa Murphy's (FRSH) was added to the Nasdaq May 2, 2014, raising $64.1 million in shares. [11]

Following a loss in the third quarter of 2016, the company announced that it would launch its first national advertising campaign in 2017. [12]

By 2017–2018, the franchisor was struggling, dipping in and out of losses and profitability. In May 2019, it was taken over by Canadian private food conglomerate MTY Food Group, and removed from the NASDAQ. [13]

Papa Murphy's employees during the Covid-19 Pandemic Papa Murphy's Employees.jpg
Papa Murphy’s employees during the Covid-19 Pandemic

In October 2022, Papa Murphy's was sued in a class action lawsuit alleging the company had been secretly wiretapping the private conversations of everyone who had communicated via the company's online chat feature. [14]

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. As part of the take-and-bake concept, the pizzas are made at the store but are not baked there. 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. [15] Papa Murphy's also offers salads, dessert items, and soft drinks in various sizes. [16]

A Papa Murphy's employee creating a Papa's Favorite pizza

See also

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References

  1. ↑ "Papa Murphy's Take 'N' Bake Pizza". PizzaMarketplace.com. Archived from the original on February 5, 2007. Retrieved February 5, 2007.
  2. ↑ Rogoway, Mike (April 11, 2019). "Papa Murphy's sells to Canadian firm for $190 million". The Oregonian . Retrieved April 16, 2019.
  3. ↑ "History of Papa Murphy's International, Inc". FundingUniverse. Retrieved December 10, 2024.
  4. ↑ "Papa Murphy's". The Canadian Business Journal. September 20, 2014. Retrieved October 28, 2021.
  5. ↑ "Papa Murphy's sold to NY-based Lee Equity Partners". The Oregonian . The Oregonian. April 1, 2010. Retrieved April 1, 2010.
  6. ↑ "Vancouver-based Papa Murphy's sale wraps up". The Oregonian . May 6, 2010. Retrieved May 7, 2010.
  7. ↑ Culverwell, Wendy (November 16, 2012). "Papa Murphy's adds first local store in four years". Portland Business Journal . Retrieved November 18, 2012.
  8. ↑ Culverwell, Wendy (July 30, 2013). "An IPO for Papa Murphy's?". Portland Business Journal. Retrieved July 31, 2013.
  9. ↑ "An IPO for Papa Murphy's?".
  10. ↑ Stevens, Suzanne (March 12, 2014). "Papa Murphy's announces plans for an IPO". Portland Business Journal. Retrieved March 13, 2014.
  11. ↑ Papa Murphy's shares rise modestly on public debut | Corporate News content from Nation's Restaurant News
  12. ↑ Jennings, Lisa (November 2, 2016). "Papa Murphy's to launch first-ever national ad campaign in 2017" . Retrieved November 4, 2016.
  13. ↑ Sniegowski, Don. "Canada's MTY Buys Troubled Papa Murphy's" . Retrieved March 25, 2020.
  14. ↑ "Papa Murphy's Hit With Privacy Suit Over Website Chats - Law360". www.law360.com. Retrieved October 28, 2022.
  15. ↑ "Take-n-Bake Pizza Concepts Expand East; Papa Murphy's Leads the Way".
  16. ↑ "Nutrition Facts | Papa Murphy's Pizza". Papa Murphy's Take N' Bake Pizza | Order Pizza Online & Signup For Pizza Deals. Retrieved October 28, 2021.
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