IRVING, TEXAS – Cicis Pizza announced earlier in the week it successfully came out of Chapter 11 protection and completed the process in less than two months.
Cicis Enterprises agreed to sell the company to D&G Investors when the restructuring plans were introduced in February. D&G Investors is affiliated with SSCP Management and Gala Capital Partners. The new ownership group now owns and operates more than 200 restaurant locations in its portfolio. The sale to D&G Investors includes Cicis Enterprises, JMC Restaurant Distribution, and all its assets and subsidiaries.
“We are looking forward to partnering with D&G Investors going forward and ensuring the brand is poised for an extremely bright future,” said Jeff Hetsel, president and chief operating officer of Cicis. “For more than 35 years, Cicis has held a special place in the hearts, minds and appetites of many Americans and our focus is to ensure our guests keep that connection to our brand for many years to come.”
Anand Gala, founder and managing partner of Gala Capital Partners, and Chris, Sunil and Puja Dharod, principals of SSCP Management, led the formation of D&G Investors.
“Cicis has so many attributes that are appealing and we believe in a bright future in this post-pandemic world,” said Chris Dharod. “While the pandemic has been a difficult time for many restaurant brands, not just Cicis, the brand does have staying power because of the strength of the brand and the business model. We are committed to advancing the company and working closely with franchisees to grow their businesses together.”
After the restructuring, Cicis has total operations in more than 30 states with nearly 300 locations.