NEW ORLEANS Naked Pizza, the single-unit, better-for-you pizza concept here, has followed up its May investment by Dallas Mavericks owner Mark Cuban with an investment by The Kraft Group LLC that it said would help launch its franchising program.
Terms of the deal were not disclosed. The Kraft Group is a privately held company based in Foxborough, Mass., with investments in professional sports, including the New England Patriots professional football team, as well as in manufacturing and real-estate development.
Randy Crochet founded the health-focused Naked Pizza with Jeff Leach three years ago. The pizza concept features a proprietary, 12-grain crust fortified with probiotics and prebiotics with no added sugar, trans fats or high-fructose corn syrup.
"We've been clear from the beginning: All money is not the same," Crochet said. "To invest, our partners must share our priorities and fully embrace the mission of NakedPizza."
Kraft Group founder Robert Kraft said in a statement, "Our partnership with Naked Pizza provides us with the most effective way possible to serve our mission of helping Americans become healthier. ... The great thing is, it's a food everyone loves. At its core, Naked Pizza is great tasting, very healthy, affordable pizza. This simple, and provocative business model serves a profound mission."
Naked Pizza said it has been working on expansion since the investment in May by Cuban, who also founded the HDnet television channel. As part of his investment, Cuban secured area developer rights for Naked Pizza in the state of Texas.
In its partnership with Kraft Group, Naked Pizza said it would select area developers "based on the strength of the cultural fit and commitment to the principles and vision of the company."
In mid-November, Naked Pizza will hold an invitation-only summit in New Orleans to finalize major area developer contracts and engage additional partners in the United States. Once these commitments are finalized and operations support is in place, Naked Pizza said it would begin to focus on international expansion with the help of The Kraft Group's global network.
Franchise consulting group iFranchise, which works with such concepts as Pinkberry, Haagen-Dazs, Krispy Kreme, McDonald's, Subway and Taco Bell, will handle franchise development, Naked Pizza said. DLA Piper will provide legal counsel.
In its deal with Naked Pizza, the Kraft Group said it also saw an opportunity to invest in post-Hurricane Katrina New Orleans. Jonathan Kraft, vice president of The Kraft Group, said, "New Orleans is one of the world's great cities, with a deep culinary heritage. Naked Pizza is a leader in a growing movement in the city. Post-Katrina, the city has seen an entrepreneurial surge, including an influx of talent."
Since founding the store in 2006, Leach said Naked Pizza's founders have been concerned about the nation's health and health care. "As big of a problem as this is, our contribution to the solution is pretty simple: a pizza that tastes good, is better for you in a meaningful way and starts a conversation," Leach said.
Contact Ron Ruggless at [email protected].