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Kraft Group becomes second major investor in concept
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New Orleans-based Naked Pizza is on the verge of a major growth spurt, after getting financial backing from a second major investor. The Kraft Group has joined Dallas Mavericks owner Mark Cuban in funding the single-unit, better-for-you pizza concept.
“Naked Pizza has been innovative both in the development of a unique product, for which there is a growing demand, and in their use of non-traditional methods to build a strong, unique brand,” said Kraft Group president Jonathan Kraft. “They are now implementing an innovative franchising strategy, and we look forward to partnering with them to help grow their business.”
Unlike traditional franchise models, Naked Pizza said it won't be selling units or territories, but awarding regional developers based on criteria that include their cultural fit and commitment to the principles of the company. With franchise documentations expected to be completed in October, many U.S. markets have been preliminarily reserved, including the entire state of Texas. In mid-November, Naked Pizza will hold an invitation-only summit in New Orleans to finalize developer contracts and engage additional partners in the United States.
Terms of the deal with Kraft not disclosed. The Kraft Group is a privately held company based in Foxborough, Mass., with investments in professional sports, including the New England Patriots pro football team, as well as in manufacturing and real-estate development.
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