Former McDonald's CEO invests in pizza chain

Former McDonald's CEO Don Thompson is now taking on the pizza world as the Chicago-based accelerator he leads announced it would make a major investment in a Los Angeles-based chain of 'craft your own" pizzas.

Cleveland Avenue LLC is taking on a majority investment in the PizzaRev restaurant chain. The chain offers customers a "Craft Your Own" pizza fast-casual dining experience in dozens of locations across the U.S., with 200 currently in development.

Financial terms of the investment were not disclosed.

"We're attracted to PizzaRev because of its potential for scale and growth," Thompson said.

"This is more than an investment, this is a partnership. Our mission is to provide collaborative expertise and educational, practical and financial resources to our network of entrepreneurs and industry partners."

PizzaRev's co-founder and co-CEO Nicholas Eckerman said the company shares a common vision with Cleveland Avenue.

"Our focus is always on our customers and giving them delicious, unexpected and quality choices in this pizza revolution we've created," Eckerman said. "Cleveland Avenue's team has the industry expertise, versatile resources and strategic vision we need at this crucial juncture in PizzaRev's growth."

Founded in 2012, PizzaRev has locations about 40 locations in 10 states and Mexico, and new locations planned for Louisiana, according to the company's website.

There are currently no locations in Illinois.

Customers can customize a personal-sized 11-inch pizza for one price.

The pizzas are then fired in a 900-degree, stone-bed oven which produces a crispy Roman-style pizza in three minutes.