Bertucci's facts for kids
Brick Oven Pizzeria
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A Bertucci's in Peabody, Massachusetts
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| Subsidiary | |
| Industry | Restaurant |
| Genre | Casual dining |
| Founded | 1981, in Somerville, Massachusetts, as (Bertucci's Pizza and Bocce) |
| Founder | Joseph Crugnale |
| Headquarters | Northborough, Massachusetts U.S. |
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Key people
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Len Carpenter (CEO) |
| Products | Italian-American cuisine |
| Parent | N.E. Restaurant Co. Inc. (1998–2018) Earl Enterprises (2018–present) |
Bertucci's is an American chain of restaurants offering pizza and Italian food. Bertucci's was founded by Joey Crugnale in Davis Square, Somerville, Massachusetts, in 1981. The company expanded rapidly during the 1990s. Bertucci's locations are primarily found in the Northeast US, but range as far south as Virginia. N.E. Restaurant Co. Inc. bought out Bertucci's in 1998, adopting the Bertucci's Co. name in 2001.
History
Joseph ("Joey") Crugnale, Bertucci's founder, was born in Sulmona, Italy. He landed his first job in a restaurant while in high school, after emigrating to Boston, Massachusetts. He worked as a porter at the Sonesta Hotel in Cambridge, Massachusetts. In 1974, he opened his first ice cream stand. In 1975, he refinanced his father's home and purchased Steve's Ice Cream from founder Steve Herrell for $80,000. Crugnale established 26 stores before selling the concept to Integrated Resources in 1983 for $4.5 million.
The first 'Bertucci's Pizza and Bocce' was opened in 1981, two doors from Steve's Ice Cream in Davis Square. Bertucci's was opened to eliminate the possibility of an ice cream competitor moving in. The name was found in a magazine during a flight to New York City. The original location had a bocce court in the basement.
1980s
USA Today listed Bertucci's as one of America's top 10 pizza restaurants in 1989; by then, its headquarters were in Woburn, Massachusetts.
1990s
Bertucci's became a publicly owned company in July 1991. The company offered 21 units for $13 per share. That year sales increased 30 percent to $37.4 million and net income increased by 90 percent to $3 million. Stock prices nearly doubled, selling for $24.75 per share.
Joey Crugnale attempted to take the chain private again in 1998, but though the board approved his attempt, he was outbid. N.E. Restaurant Co. Inc. purchased Bertucci's for $10.50 a share during the buyout.
2000s
In 2001, N.E. Restaurant Co. Inc. sold its Chili's and On the Border restaurants to Brinker International, and changed its name to Bertucci's Corp. A $4 million advertising tagline "Everybody Eats" was developed in April 2002. In 2006, Italian chain Vinny T's rebranded as Buca di Beppo and withdrew from some markets. As part of their consolidation, they sold 11 Boston locations to Bertucci's Corp. By the end of the decade the chain had nearly 100 locations.
2010s
In 2011, The Boston Globe did a DNA investigation of fish available in area restaurants and supermarkets and determined that 50% of the fish was not properly labeled as to species. Bertucci's was asked for comment, and acted swiftly to correct the issue – an article on their search to find an acceptable serving of cod to replace the hake that their supplier had sourced them with appeared at the same time as the report on the investigation.
In December 2012, Bertucci's opened its first 2Ovens concept restaurant in the revamped White City shopping center in Shrewsbury, Massachusetts. The brick ovens are the primary method of cooking in the restaurant.
On April 15, 2018, Bertucci's filed for Chapter 11 bankruptcy. The chain was expected to close about half of their locations and the plans were to hold an auction for the remainder of the company. The opening bid would be for $19.7 million and if no higher bid was made, an affiliate of Right Lane Capital had agreed to purchase the chain. The company owed approximately $9 million to their suppliers and $110 million to financial lenders.
In June 2018, the Bertucci's chain agreed to be acquired by the corporate parent of Planet Hollywood, Earl Enterprises, for $20 million.
2020s
In December 2022, Bertucci's filed for Chapter 11 bankruptcy, blaming declining sales and loss in revenue from the COVID-19 pandemic, and the inflation causing the company to increase dramatically in supply issues. As a result of the bankruptcy, two restaurants in Connecticut, in Avon and Newington, two restaurants in New Hampshire, in Manchester and Salem, and five restaurants in Massachusetts, in Beverly, Brockton, Canton, Marlborough, and North Attleboro, were closed. None of Earl Enterprises' other owned companies were affected from the bankruptcy filing. In March 2023, the Peabody location was closed. In June 2023, Bertucci's closed its New Jersey location in Mount Laurel. In October 2023, two more Massachusetts Bertucci's locations were closed, located in Central Square in Cambridge, and in Lexington. As of April 2024, the company operates 23 locations in Connecticut, Delaware, Maryland, Massachusetts, Pennsylvania, Rhode Island, and Virginia.
See also
