Pizza Fusion announced it has terminated its Definitive Agreement with Unique Pizza & Subs Corporation (UPZS) providing for the acquisition of Pizza Fusion Holdings by Unique Pizza & Subs.
The Boca Raton based company ended its merger arrangement with Unique Pizza & Subs because of the company’s inability to meet the terms of its Definitive Agreement to acquire Pizza Fusion, according to a news release from the company.
“Our decision to terminate the agreement with Unique Pizza & Subs was made in the best interest of our shareholders,” Vaughan Lazar, CEO and co-founder of Pizza Fusion, said.
“Pizza Fusion is pursuing alternative financing that will not only bring greater value to shareholders, but also supports the future growth of the Pizza Fusion brand and development of the chain,” Lazar added.
Founded in the best interest of the individual and the environment, Pizza Fusion is the number 1 green franchise in North America. The all-natural pizza restaurant chain offers fresh, natural, and healthier foods at its eco-friendly locations worldwide. The nationally expanding restaurant chain was recognized by Nation’s Restaurant News in 2010 with its “Hot Concept” award. Pizza Fusion, “Saving the Earth, One Pizza at a Time.”
Pizza Fusion was the world’s first restaurant chain to adopt organic restaurant certification. Today, it has 21 franchised locations, with 13 in the U.S., and eight in Saudi Arabia.