Papa Murphy’s Doubles Its Expansion in Alabama with Development Commitment from Existing Franchisee; Company Named Fastest ...
March 22 2016 - 9:00AM
Papa Murphy’s Holdings, Inc. (NASDAQ:FRSH) announced today it
signed expanded store development agreements with Waterman
Acquisition Company, LLC to develop an additional 12 new Papa
Murphy’s pizza stores in Huntsville and Birmingham, Alabama and two
stores in Raleigh, North Carolina over the next four years.
Currently there are 42 Papa Murphy’s stores located in Alabama and
North Carolina.
According to a recent study by AggData, Papa
Murphy’s is the fastest growing chain in Alabama with a 43 percent
growth rate in the area. Waterman owner and area developer Boyd
Simpson, a franchise owner with Papa Murphy’s since 2011, said,
“After experiencing significant growth with our Papa Murphy’s
stores in these markets over the last five years, I knew it was
time to expand our portfolio and add these additional locations.
This expanded agreement reinforces my belief in the strength of the
brand, the quality of the product and the company’s commitment to
first-class service.”
The deal with Waterman modifies existing area
development agreements and increases the store count from 12 to 24
in Huntsville and Birmingham Alabama and from 10 to 12 units in the
portion of Raleigh, North Carolina operated by Waterman. This
increases Waterman’s development commitment by 14 units bringing
the total number of stores to be developed by Waterman to 36 across
Huntsville/Birmingham, Alabama and Raleigh, North Carolina
territories. Waterman is the exclusive developer in Huntsville,
where it operates 12 stores and in Birmingham, where it operates
eight stores. It also operates nine stores in a territory within
the Raleigh designated market area where other franchise owners
also operate stores and there are additional opportunities for new
owners.
According to Jayson Tipp, chief development
officer and senior vice president of technology, the expansion in
the southern U.S. signals the company’s commitment to expanding its
brand across the country and bringing its signature take-and-bake,
fresh pizza model to underserved markets. “Consumers are attracted
to our brand because of our commitment to customer service, high
quality products that make meal preparation for families easy with
our bake-at-home model,” Tipp said. “In addition, the recent launch
of a new online ordering system allows customers to create their
own fresh pizza online and the convenience to pick up their order
in-store when they want, is already creating new sales
opportunities and providing new ways to engage with customers.”
To find a Papa Murphy’s location nearest you and
order fresh and customizable offerings online, please visit
www.papamurphys.com. To connect with Papa Murphy’s through Facebook
visit www.facebook.com/papamurphyspizza or Twitter and Instagram at
@PapaMurphys #LoveAt425.
About Papa Murphy’s
Papa Murphy's Holdings, Inc. (Nasdaq:FRSH) is a
franchisor and operator of the largest Take ‘N' Bake pizza chain in
the United States, selling fresh, hand-crafted pizzas ready for
customers to bake at home. The company was founded in 1981 and
currently operates more than 1,500 franchised and corporate-owned
fresh pizza stores in 38 States, Canada and United Arab Emirates.
Papa Murphy's core purpose is to bring all families together
through food people love with a goal to create fun, convenient and
fulfilling family dinners. In addition to scratch-made pizzas, the
company offers a growing menu of grab 'n' go items, including
salads, sides and desserts.
Media Contact:
Christine Beggan, ICR
papamurphys@icrinc.com
203-682-8200
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