Springfield Holyoke, MA, November 5, 2026 — A Canadian company that owns popular restaurant brands, including Papa Murphy’s and Cold Stone Creamery, has announced it will not accept a takeover offer from a rival bidder. The proposed acquisition was valued at $720 million.

The identity of the rival bidder and the specific reasons for the rejection were not immediately disclosed. This development pertains to a significant financial transaction within the restaurant industry, involving established franchise names.

The company’s decision to reject the bid signals its current strategy or valuation expectations, which may differ from the offer presented. Further details regarding the terms of the bid or the negotiations leading to its rejection have not been made public.

The Canadian owner operates a portfolio of food service brands, with Papa Murphy’s known for its take-and-bake pizza model and Cold Stone Creamery recognized for its customizable ice cream offerings. The value of the rejected bid, $720 million, indicates a substantial market valuation for the target company.

Discussions around potential mergers and acquisitions are common in the competitive restaurant sector, driven by various market factors, including expansion opportunities, operational efficiencies, and shareholder value. In this instance, the owner has opted against proceeding with the proposed sale at the offered price.

Additional information regarding the company’s future plans, its financial performance, or any subsequent actions following the bid rejection is expected to emerge as the situation develops. The lack of specific details from either party involved leaves the market awaiting further clarification on this business transaction.


Story summarized from the original created by Brandon Champion on www.masslive.com, see more information here.

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