Figaro Culinary Group Inc. (FCG) is carving out its fast-growing Angel’s Pizza brand into a standalone company as part of a corporate restructuring approved by its board—an overhaul aimed at sharpening operational focus and positioning the chain for expansion.
Under the plan, Figaro Coffee Systems Inc. (FCSI), FCG’s operating subsidiary, will transfer all Angel’s Pizza–related assets to a newly formed entity, Angel’s Pizza Inc. (API), in exchange for shares in the new company. Once the restructuring is complete, API will own and operate the Angel’s Pizza business, while remaining fully owned by FCSI.
The board has also authorized FCG’s chairman or president to exercise the company’s voting rights in FCSI to approve the restructuring and any related transactions. FCSI, for its part, will begin securing the necessary corporate approvals for the transition.
FCG expects to implement the restructuring once regulatory clearances are obtained, likely sometime in 2026. Executives say the move will allow the pizza brand—one of the group’s strongest growth drivers—to operate with greater agility while preserving full ownership within the Figaro ecosystem.
The proposal earned unanimous approval from directors present at the November 20 meeting, underscoring board confidence in the restructuring strategy.
FCG said it will disclose material updates as the process moves forward.
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