Straw Hat franchisees formed their own company.
Under an agreement with Marriott, the 102 owners of Straw Hat Pizza restaurant franchises will assume control of their own operations through creation of Straw Hat Cooperative Corp. Marriott will pay the cooperative $3.5 million to fund initial operations and will give the new company such things as corporate trademarks and recipes. In exchange, the franchisees will give up all legal claims against Marriott. Marriott recently sold its approximately 100 company-owned Straw Hat Pizza restaurants to Pizza Hut, which is converting the restaurants to Pizza Huts.
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