Funding to help MOD Pizza open more locations

by Jeff Gelski
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MOD Pizza
At MOD Pizza, customers may choose their own artisan-style pizzas, which are made on demand, and salads.
 

SEATTLE — MOD Super Fast Pizza Holdings, L.L.C., which has more than 300 locations in the United States and the United Kingdom, plans more growth in 2018 after raising $33 million of additional equity and closing on a $40 million credit facility, the Seattle-based fast-casual chain said Jan. 9.

Scott and Ally Svenson founded MOD Pizza in 2008. Customers may choose their own artisan-style pizzas, which are made on demand, and salads. The chain opened 110 stores system-wide in 2017.

The latest equity funding brings the company’s total equity capital raised to more than $185 million. Existing investors, including PWP Growth Equity and Fidelity Management & Research Co., led the $33 million equity investment. The $40 million credit facility was arranged by Keybanc Capital Markets, Inc. and SunTrust Robinson Humphrey, Inc. as joint lead arrangers and book runners, and joined by Raymond James.

Scott Svenson, MOD Pizza
Scott Svenson, c.e.o. of MOD Pizza

“As we enter our 10th year and celebrate the opening of our 300th store, we are more energized than ever before about the incredible opportunity in front of us,” said Scott Svenson, chief executive officer.

 

 

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