Chicago accelerator firm Cleveland Avenue acquired a majority stake in Westlake Village-based pizza chain PizzaRev.
Cleveland Avenue, founded by retired McDonald’s CEO Don Thompson, invests in food and beverage businesses, including providing research and development resources. PizzaRev represented an opportunity for scale and growth, Thompson said in a news release May 22.
“This is more than an investment, this is a partnership,” Thompson said. “Our mission is to provide collaborative expertise and educational, practical and financial resources to our network of entrepreneurs and industry partners.”
The fast-casual pizza chain said it has dozens of locations, with another 200 currently in development in the U.S. and Mexico.
“Our focus is always on our customers and giving them delicious, unexpected and quality choices in this pizza revolution we’ve created,” said PizzaRev co-founder Nicholas Eckerman. “Cleveland Avenue’s team has the industry expertise, versatile resources and strategic vision we need at this crucial juncture in PizzaRev’s growth.”
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