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Benzinga
Benzinga
Business
Shivani Kumaresan

Papa John's Inks Refranchising Agreement With Sun Holdings

Papa John Papa Johns BLUE (Organization) PZZA Nasdaq Texas
  • Papa John's International Inc (NASDAQ:PZZA) has re-franchised its majority stake in a joint venture between Papa Johns and Blue and Silver Ventures Ltd. The financial terms of the transaction were not disclosed.
  • Sun Holdings, one of Papa Johns largest domestic franchise partners, has assumed control of 90 Papa Johns restaurants in Texas.
  • Blue and Silver Ventures will continue to be a limited partner in the venture, and their share of ownership will remain unchanged.
  • "Sun Holdings is a proven, well-capitalized operator who understands our ambitious goals to expand the footprint of our brand," said Amanda Clark, Papa John's Chief Development Officer.
  • Price Action: PZZA shares are trading lower by 0.39% at $105.30 on the last check Thursday.
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