Quad Cities investor group buys Happy Joe's Pizza chain

What's the deal? A group of Quad Cities investors has acquired Happy Joe's PizzaDealroom has a profile for this one. Try Dealroom → & Ice Cream, the announcement said. The purchase includes the brand's franchising company and its three company-owned restaurants in Bettendorf and Davenport.

Who's in charge? Carlos Araujo, an executive with the ownership group, has been named president and will lead the company.

What's the endgame? The franchising company gives the new owners a platform to grow the brand beyond its three company-run locations. Terms of the deal were not disclosed.

The signal: Local investor groups continue to take over regional restaurant chains, betting on established brands and franchise networks to expand.

Read more: ourquadcities.com

Image credit: Kurayba