Craveworthy Brands announced Tuesday that an affiliate has signed a definitive agreement to acquire New England Authentic Eats LLC, the Dedham-based company that operates the two chains. The deal, expected to close by Dec. 31, covers more than 160 restaurants and brings the 65-year-old pizza brand into a portfolio of nearly 500 locations.

Papa Gino's, founded in 1961 and headquartered in Dedham, has billed itself as "The Official Pizza of New England," but its footprint has shrunk amid financial difficulties. The company filed for bankruptcy in 2018 and was purchased the following year by Wynnchurch Capital, a private equity firm that said at the time it would refresh the restaurants' look and menu.

Under the new ownership, Papa Gino's will retain its name and existing locations, but Craveworthy plans to introduce its Wing It On! brand to all of the chain's restaurants in the region. Craveworthy's portfolio already includes The Budlong, Krafted Burger + Tap, Genghis Grill, BD's Mongolian Grill and Flat Top Grill.

"Papa Gino's is a New England institution. People grew up on this pizza, and we're going to honor that," Gregg Majewski, CEO and founder of Craveworthy, said in a media release. "We protect what makes a brand special, then put our full platform behind it. With Wing It On!, we can build on that foundation and bring something new to the table."

The sale marks the latest chapter for a chain that has been a fixture of local pizza culture for generations, even as it has struggled to maintain its presence across the region. For customers and workers alike, the deal promises continuity of the Papa Gino's and D'Angelo names alongside an expanded menu offering.

The transaction is scheduled to be completed by the end of the year.