Pieology acquires competitor Project Pie

Pieology Pizzeria has acquired the competing Project Pie fast-casual pizza chain, the company said Wednesday.  Rancho Santa Margarita, Calif.-based Pieology received a strategic investment in January from the founders of the Panda Restaurant Group, parent to the Panda Express chain. Terms of the Project Pie deal were not disclosed.

“I have long said that consolidation was the future for the fast-casual pizza segment,” said Carl Chang, Pieology CEO and founder, in a statement. “The Project Pie purchase provides us with an opportunity to strategically accelerate our growth and we’re proud to make this first big move of hopefully many to come.”

Pieology has more than 100 restaurants.

This is an excerpt from this full article on NRN.com.