Private equity firm ACON Investments divests the 32-unit pizza and entertainment chain.

CEC Entertainment, Inc. (CEC), the parent company for Chuck E. Cheese's, acquired Peter Piper Pizza, a 32-unit pizza restaurant and entertainment concept, from private equity firm ACON Investments. Terms of the deal were not disclosed.

CEC intends to continue the popular Peter Piper brand with operation of the current restaurants, in addition to implementing growth initiatives to expand the chain nationally, according to a company release.