The Pizza Chain Backed by LeBron James Could be Close to Nabbing a $100 Million Valuation

By Alex Morrell | Thursday, July 13, 2017

Blaze Pizza
 Blaze Pizza, the fast-casual pizza chain backed by NBA star LeBron James, is nearing a deal that would value the company at $100 million, according to Bloomberg  News.

The pizza chain is trying to sell a minority stake in the company to a buyout firm in a deal that could be announced next week, according to Bloomberg.

Blaze, which was founded in 2011, is one of the fastest-growing restaurants ever, posing a major threat to industry stalwarts like Pizza Hut and Domino's.

The chain opened it's 200th store this week and says it's on track to pull in $300 million in sales this year, up from $184 million in 2016.

Cleveland Cavaliers' superstar LeBron James made waves when he ditched a $14 million endorsement deal with McDonald's in 2015 in favor of repping the upstart pizza joint, which he bought a stake in back in 2012.

 The gamble has paid off for James, and the company is reportedly looking to go public in the next few years.

Business Insider recently tested out the food at the California-based company, which has been dubbed the "Chipotle of pizza."

For More Infromation Please contact:
Alex Morrell
Senior Finance Reporter
Email: amorrell@businessinsider.com

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