Buffalo Wild Wings (NASDAQ:BWLD), which runs about 900 outlets nationwide, has acquired a minority stake in a small pizza shop chain.
The company has purchased an undisclosed share of PizzaRev, which operates three restaurants in the Los Angeles area. Launched in 2012, PizzaRev uses a stone-hearth oven to prepare pizzas to customer specifications in about three minutes, Restaurant News notes.
BWLD had recently signaled that it was seeking investment opportunities in restaurants that did not compete with its branding and could be developed into a national franchise.
A Robert W. Baird & Company analyst noted that by taking a minority share in PizzaRev, BWLD retained the option of making additional investments in other potential franchises. Should one of the candidates show particular promise, BWLD could then acquire a majority share.
In 2010, BWLD announced plans to open a number of international locations, though its expansion into Canada is proceeding at a relatively slow pace.
Shares of Buffalo Wild Wings rose fractionally in Wednesday morning trading.