Boxwood Partners Advises Wonder Franchises On The Acquisition Of Pizza Factory, A Franchise Operator Of Pizza Restaurants

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Boxwood Partners, a boutique investment bank based in Jupiter, Florida with offices in Richmond, Virginia. (PRNewsfoto/Boxwood Partners LLC)


Boxwood Partners, a leading boutique investment bank, acted as the exclusive buy-side advisor to Wonder Franchises, a subsidiary of Tucker's Farm Corporation, on its acquisition of Pizza Factory, franchisor of pizza restaurants based on the west coast of the United States.

Leading M&A Advisory Firm Starts 2025 Expanding into the QSR Sector in the Franchise Industry

JUPITER, Fla., Jan. 16, 2025 /PRNewswire/ -- Boxwood Partners , a leading boutique investment bank, is pleased to announce that it acted as the exclusive buy-side advisor to Wonder Franchises
("Wonder") , a subsidiary of Tucker's Farm Corporation, on its acquisition of Pizza Factory , franchisor of pizza restaurants based on the west coast of the United States. Their franchise network spans 110 locations and generates more than $90 million in system sales annually.

"Pizza Factory has been an iconic family-friendly pizza restaurant on the west coast since 1979 and will continue to serve its customers well throughout its new partnership with Wonder Franchises, standing by its high-quality ingredients and consistent service," said Brian Alas, Managing Director at Boxwood.

"Boxwood Partners advised Wonder Franchises on its acquisition of Pizza Factory, expanding into the QSR sector in 2025."

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Since its founding in 2023, Wonder is a franchisor and multi-site holding company focused on partnering with emerging and mid-sized brands to unlock significant growth potential. The acquisition of Pizza Factory is a significant milestone for Wonder Franchises, which aims to support the continued success of the brand and further scale its operations. Pizza Factory CEO Mary Jane (MJ) Riva will retain her title after the deal and will help drive franchise growth and support the Wonder team.

"This marks our second acquisition in the past three months, adding to our portfolio of best-in-class franchisors," said Adam Lewin, CEO of Wonder Franchises . "We are excited to partner with MJ and her entire team at Pizza Factory, and we look forward to continuing the success they established in the restaurant industry. We see an incredible opportunity to expand further across the western US, continuing to deliver high-quality pizza while preserving the consistency of their delicious recipes."

"Boxwood has consistently proven to be a trusted advisor and invaluable partner as we continue to build out of the Wonder platform. Their understanding of the franchise space is unmatched, and we appreciate the partnership as we identify more opportunities within the industry," said Kyle Tucker, Founder of Tucker's Farm Corporation , the parent company of Wonder .

This marks Boxwood's first restaurant and QSR transaction since the sale of sweetFrog in 2018.

Boxwood Partners continues to solidify its position as a trusted advisor to both franchisors and franchisees, having successfully facilitated numerous buy-side and sell-side transactions within the franchise industry. To learn more about Boxwood Partners, please visit .

About Boxwood Partners
Boxwood Partners, LLC , is a boutique investment bank based in Jupiter, Florida with offices in Richmond, Virginia. Boxwood Partners combines a unique blend of senior-level transaction advisory, business operating experience, and proven process execution skills to give its clients a distinct advantage in the market. The firm's extensive relationships within the global capital and buyer communities (including U.S. and international private equity groups, corporations, and lenders) and other essential transaction-related service providers such as consultants, attorneys, and accountants, ensure that the firm's clients receive the attention, service, and results they deserve. For more information about Boxwood Partners, please visit .

About Wonder Franchises
Wonder Franchises is a subsidiary of Tucker's Farm Corporation, founded in 2023 to acquire and scale emerging franchise and multi-site brands. Wonder is dedicated to partnering with quality businesses, providing them with the resources, capital, and strategic support needed to drive long-term growth and franchisee success. For more information about Wonder Franchises, visit .

About Pizza Factory
Pizza Factory is a franchisor of pizza restaurants primarily located in the Western United States. Founded in 1979, the company has grown to 110 locations across several Western states. Pizza Factory restaurants offer a family-friendly dining experience with a menu including hand-tossed pizzas, pasta, and sub sandwiches. Over the years, Pizza Factory has maintained its commitment to quality and community engagement, striving to make each location feel like a hometown pizzeria. For more information about Pizza Factory, visit .

About Tucker's Farm Corporation
Tucker's Farm Corporation is a value-oriented holding vehicle modelled after Berkshire Hathaway. Founded in 1994 as a small goat dairy farm, they have grown into a family of companies across numerous industries and geographies. Capitalized with a long-term equity base, the Farm seeks to find and compound cash flows through highly active M&A strategies. For more information, please visit .

SOURCE Boxwood Partners LLC

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