Founded in 1958, Perkins operates 400 restaurants in 33 states and five Canadian provinces. The Perkins system includes 134 company-owned and operated restaurants and 266 franchised units. The Company also has a baked goods manufacturing division operating under the name Foxtail which manufactures pies, pancake mixes, cookie dough, and muffin batter for in-store bakeries and third-party customers. The combination of the Perkins Restaurant & Bakery chain with Marie Callender’s occurred in 2006. Marie Callender’s consists of 38 company and 30 franchised restaurants in 6 states; it is famous for its fresh-baked pies and has a national presence through supermarket frozen entrée lines offered by ConAgra. Private investment funds managed by Wayzata Investment Partners LLC are the majority owners of Perkins & Marie Callender’s Holding LLC, the parent company of the Perkins & Marie Callender’s group of companies.