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California Pizza Kitchen: Companys
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California Pizza Kitchen is pizza-centered restaurant concept based in Los Angeles. The publicly held company's approximately220 dine-in and express units offer a broad menu of gourmet pizzas, sandwiches, pasta and salads. The company did $554.6 million in revenue in 2006
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Pizza Kitchen continuously experiments with food items and flavor combinations in an attempt to create new selections. The Company's signature creation, the Original BBQ Chicken Pizza, utilizes barbecue sauce instead of tomato sauce, and adds toppings of marinated chicken breast, smoked gouda and mozzarella cheeses, sliced red onion and fresh cilantro. The Company's Original Thai Chicken Pizza is created with a base of spicy peanut-ginger and sesame sauce, and topped with marinated chicken breast, mozzarella cheese, roasted peanuts, green onions, bean sprouts, julienne carrots and fresh cilantro. The Company's other pizzas include the Philly Cheesesteak Pizza, Grilled Garlic Shrimp Pizza, Jamaican Jerk Chicken Pizza and Caramelized Pear and Gorgonzola Pizza.
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California Pizza Kitchen owns, licenses, and franchises a chain of premium pizza restaurants. Headquartered in Los Angeles, CA, the company will be added to the S&P SmallCap 600 GICS (Global Industry Classification Standard) Restaurants Sub-Industry index.
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LOS ANGELES — Comparable-store sales at California Pizza Kitchen Inc. increased 1.8 percent in the fourth quarter ended Dec. 30, 2007, the company announced. For the year, comparable-store sales were up 3.8 percent.
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Changes were on the horizon for California Pizza Kitchen as it entered the late 1990s. After spending nearly $100 million to expand the restaurant chain, PepsiCo shifted its business strategy and decided to jettison its restaurant holdings. As such, the company agreed to sell its interest in California Pizza Kitchen to venture capital firm Bruckmann, Rosser, Sherrill & Co. in 1997. Flax and Rosenfield retained a 25 percent interest in the company and Frederick Hipp was brought in to oversee daily operations as CEO.
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The first major restaurant offering in more than a year, California Pizza Kitchen (CPKI: Research, Estimates) earned nearly $5.4 million in 1999 on revenue of more than $179 million. The company has more than 100 restaurants and take-away shops in 21 states.
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