California Pizza Kitchen acquires remaining interest in LA Food Show
CPK will fully consolidate LA Food Show into the Company's results beginning the second quarter of 2005, which commenced April 4, 2005.
26/04/05 California Pizza Kitchen, Inc. has announced that it has agreed to acquire the remaining approximately 75% of LA Food Show, Inc., a one-unit casual dining concept founded by CPK's co-founders and co-CEOs Rick Rosenfield and Larry Flax. Under the terms of the stock purchase agreement, which closed on April 25, 2005, California Pizza Kitchen paid $6 million in cash for the remaining equity interest, which was predominantly owned by Messrs. Rosenfield and Flax.
CPK will fully consolidate LA Food Show into the Company's results beginning the second quarter of 2005, which commenced April 4, 2005. On March 8, 2003, the Company paid $2 million in cash for a 25% stake in LA Food Show.
