Papa Murphy's Acquires 9 Stores In Minneapolis - Quick Facts

(RTTNews) - Papa Murphy's Holdings, Inc. (FRSH), a take 'n' bake pizza franchise, Friday announced the acquisition of nine Papa Murphy's stores in Minneapolis for about $3.4 million.

The company completed the acquisition of the locations from a single franchisee in mid-August, bringing the company-owned store count to 24 units in the Minneapolis market.

Overall, Papa Murphy's and its franchisees operate 78 stores in the Minneapolis market.

The transaction is not expected to impact reported earnings in the near-term. It will contribute around $560,000 of EBITDA annually, and would be accretive to Papa Murphy's earnings per share by around $0.01 to $0.02 on an annual basis before considering the amortization of re-acquired franchise rights.

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