MOD Pizza and Modmarket Announce Agreement Regarding Use of the Names "MOD" and "modmarket"
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Modmarket to Rebrand to New Name
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SEATTLE, WA and DENVER, CO -- (Marketwired) -- 08/17/15 -- MOD Pizza, the Seattle-based pioneer of the fast casual pizza segment, and Modmarket Farm Fresh Eateries, the rapidly growing Denver-based restaurant company, today announced they have settled their dispute over the use of the names "MOD" and "modmarket". Under the terms of the confidential agreement, over the course of the next year Modmarket will change its name and rebrand all of its current restaurants. Prior to the name change, Modmarket will not open any new restaurants under its current name outside of its current markets of Colorado and Texas.
"Given the ambitious growth plans of both concepts, I am thrilled that we have reached a solution for how the two companies will move forward while minimizing the possibility of confusing consumers," said Scott Svenson, co-founder and CEO of MOD Pizza.
"Given our plans for growth beyond the Colorado and Texas markets, now was the right time to resolve this issue so we can move forward with confidence as we expand into new markets," said Robert McColgan, Co-Founder and CEO of Modmarket.
Both MOD Pizza and Modmarket wish each other well with their respective growth plans. The two companies have agreed that they will make no further public statements concerning their settlement, and no further details of the terms of their confidential agreement will be made public.
About MOD Pizza: Founded in 2008 by entrepreneurs Scott and Ally Svenson, Seattle-based MOD Pizza is the pioneer of the fast casual made-to-order pizza segment. MOD's individual artisan-style pizzas are made on demand, allowing customers to create their own salads and pizzas, using fresh-pressed dough and signature sauces for one price. Pizzas are hand-cooked in an 800 degree oven in less than three minutes and salads are individually hand-tossed for each customer. The menu is rounded out with handspun milkshakes, house-made lemonades and iced teas, and local craft beers and wine. With 62 restaurants trading across 11 states, MOD is committed to creating not just a cool place to eat, but an inspired place to work.
About Modmarket: Fast food can be good food. That idea led to the creation of Modmarket in Boulder, Colo. in 2009. It took two people with zero restaurant experience to figure out that you could serve healthy, scratchmade fare for reasonable prices in a beautiful environment. Breakfast, lunch and dinner rule the day at Modmarket with a broad menu of farmtotable food that tastes even better than it looks. The company aims to bring healthy, sustainable dining to the masses. With nine locations in Colorado and four in Texas they are just getting started. Look for Modmarket in your neighborhood soon. Need more information on Modmarket? Check out modmarket.com, Facebook, Twitter or Instagram, or just visit a restaurant and order up a tasty meal.
Source: MOD Pizza
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