Private investment firm Clayton, Dubilier & Rice has acquired an ownership stake in MOD Super Fast Pizza Holdings, a fast-casual pizza chain with 433 locations systemwide. The $150 million investment will help accelerate MOD’s continued expansion, per a release announcing the transaction.
Ken Giuriceo, CD&R partner, and Paul Pressler, CD&R partner and former CEO of Gap Inc. and a senior Disney executive, will both join the MOD board of directors.
MOD opened more than 100 stores opened in each of the last 3 years, according to the company. The restaurant chain expects to reach approximately 1,000 locations over the next 5 years. In addition to continued growth, MOD plans to enhance its customer experience by investing in the company’s off-premise and digital capabilities, while continuing to look for ways to use its business as a platform to make a positive social impact.