Vancouver-Based Papa Murphy's Bought By Canadian Company

The Vancouver-based take-and-bake pizza company Papa Murphy's announced Thursday it has been sold to MTY Food Group, a Canadian-based restaurant industry company.

MTY acquired the pizza chain in a sale of approximately $190 million.

As of February, MTY owned more than 6,000 restaurant locations, including 500 locations outside of North America. It will now own more than 7,000 with its acquisition of Papa Murphy's.

MTY also owns restaurants like Taco Time, Cold Stone Creamery and Pinkberry.

Papa Murphy's was founded in 1981 and is the fifth largest pizza chain in the U.S. As of late last year, it operated more than 1,400 stores.

MTY said via news release that it will retain Papa Murphy's current support center in Vancouver.