- 4 February, 2003 -

Joe Croce, who founded Coppell-based CiCi's Pizza, will sell his privately held business to six company executives, the company announced Monday. Terms of the sale were not disclosed. Mr. Croce, who opened his first restaurant in Plano 18 years ago, said he will step down in July so he can spend more time with his wife, 6-year-old daughter and 3-year-old son. "I love the fact that I can spend more time with my church and my family," said Mr. Croce, 44, of Colleyville. "To be able to spend the early years with my children, I can't pass that up. "I don't want to look back 10 years from now and say, 'coulda, shoulda, woulda.' At the same time, it's very difficult for me to leave." Mr. Croce spent 18 years building a restaurant business of 420 company and franchise-owned stores that last year did $335 million worth of business. He informed franchise owners and company officials of his decision to sell over the weekend at CiCi's annual company banquet in Biloxi, Miss. Mr. Croce said he turned down offers from outside investors and restaurant companies because he believed the current management team deserved to carry out the business plan already in motion. "They are young, hungry and experienced, and they are ready to take the company to the next level and beyond," he said. "We all know horror stories when founders sell and what happens next, but I know this is going to be different because my management team cares about the franchisees and about what's going to happen." Joe Flanigan, vice president of marketing and one of the six new owners, said Craig Moore, vice president of operations and another new owner, will take over as president. The other new owners are: Robert Kulick, president of JMC Restaurant Distribution, the purchasing arm of the chain; Forbes Anderson, chief financial officer; Robert Grosshuesch, vice president of CiCi's training department; and Robert Parent, CiCi's vice president of development. Mr. Flanigan said CiCi's is moving forward with expansion plans that include adding 70 restaurants and projected sales growth of 5 percent for stores open longer than one year. "Our plans aren't just a lot of talk," Mr. Flanigan said. "We will open 12 to 15 stores by the end of the first quarter and that would be a company record." Last year, three experienced restaurant executives bought the rights to build up to 100 CiCi's restaurants throughout Colorado. Former Pizza Hut Inc. chief executive Allan Huston, former Pizza Hut chief operating officer Pat Williamson and Larry Zwain, a past chief executive of Boston Market, made the commitment in February. "They are absolutely critical; these guys are the strategic piece for us to get aggressive with store count, meaning 70 this year and 80 the next," Mr. Flanigan said. CiCi's Pizza specializes in all-you-can-eat buffets that include pizza, pasta, salad and breadsticks.

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