Papa Murphy’s announces $3.4M acquisition of stores

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Papa Murphy’s Holdings Inc., the Vancouver-based parent of Papa Murphy’s take-and-bake pizza chain, said Friday it has acquired nine Papa Murphy’s stores in Minneapolis, Minn., from a single franchisee for $3.4 million.

The company completed the acquisition of the stores in mid-August, bringing the company-owned store count to 24 units in the Minneapolis market. Papa Murphy’s and its franchisees operate 78 stores in the Minneapolis market.

The company and its franchisees expect to open five new stores in Minneapolis by the end of 2015.