Cicis announced that it has successfully emerged from Chapter 11 protection, swiftly completing the process in less than two months. The reorganization, which has strengthened the corporate team, company operations and financial structure, coincides with the simultaneous D&G Investors acquisition of the brand.
Cicis Enterprises entered into an agreement to sell the company to D&G Investors when it announced its restructuring plans in early February. D&G Investors, a newly-formed affiliate of SSCP Management and Gala Capital Partners, is a highly accomplished restaurant investment, ownership and operations team with a combined 60-plus years of success at the franchisee and franchisor levels.
Together, the new ownership group owns and operates more than 200 restaurant locations in their collective portfolios. The sale to D&G Investors includes Cicis Enterprises, JMC Restaurant Distribution, and all of its assets and subsidiaries. As has been the case throughout the restructuring process, current Cicis restaurant operations will continue to serve our communities and customers with the best unlimited pizza around.
"We are looking forward to partnering with D&G Investors going forward and ensuring the brand is poised for an extremely bright future," said Jeff Hetsel, President and COO. "For more than 35 years, Cicis has held a special place in the hearts, minds and appetites of many Americans and our focus is to ensure our guests keep that connection to our brand for many years to come."
Cicis worked diligently to reorganize the company with creditors and additional entities over the last couple months to finalize the D&G Investors acquisition. As a result, D&G Investors is infusing its operational knowhow and investment capital to sustain near and long-term business objectives.
Anand Gala, founder and managing partner of Gala Capital Partners, and Chris, Sunil and Puja Dharod, principals of SSCP Management, led the formation of D&G Investors.
"Cicis has so many attributes that are appealing and we believe in a bright future in this post-pandemic world," said Chris Dharod. "While the pandemic has been a difficult time for many restaurant brands, not just Cicis, the brand does have staying power because of the strength of the brand and the business model. We are committed to advancing the company and working closely with franchisees to grow their businesses together."