Zos Kitchen Papa Murphys Take N Bake Pizza

Zoe's and Papa Murphy's: A tale of two restaurant IPOs

Steve Rockwell is managing director of Restaurant Investment Banking at Janney Montgomery Scott and has 30 years of experience in the restaurant industry. He can be reached at [email protected]

Two restaurant initial public offerings were priced in recent weeks with decidedly different outcomes. Zoe’s Kitchen Inc. was hot. During the marketing of the deal, the expected price range was increased from $11 to $13 a share to $13 to $15 a share. The offering was priced at $15 a share – the high end of the revised range – and the stock closed at $24.72 its first day of trading, up 65 percent from the offering price. The stock has continued to trade in the mid-$20-a-share

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