Papa John’s Gains After Largest Franchise Deal for Rollout of 100 Stores

Popular Categories

Subscribe Here

imageStock Markets27 minutes ago (Sep 29, 2021 11:01AM ET)

(C) Reuters

By Dhirendra Tripathi

Investing.com – Papa John’s stock (NASDAQ:PZZA) rose 1.5% on Wednesday as the pizza chain signed the largest franchisee deal in its more than 36-year-old history.

Under the terms of the deal, Sun Holdings will oversee the opening of 100 new stores across Texas by 2029.

Dallas-based Sun Holdings supports more than 1,000 locations across 12 states. Papa John’s is the world’s third-largest pizza delivery company with more than 5,500 restaurants in 49 countries.

This is the second major development deal Papa John’s has announced this quarter. Under a deal announced on August 5, the company said Drake Food Service, its largest franchisee, will open over 220 Papa John’s restaurants by 2025. This includes more than 170 across Latin America, Spain and Portugal, where DFSI currently operates in excess of 280 locations.

As part of that agreement, DFSI plans to open 50 new restaurants in the U.K. over four years, where it recently purchased over 60 Papa John’s restaurants in London. As per the expanded deal, DFSI will operate more than 560 Papa John’s restaurants in total by 2025.

Papa John’s revenue in the first six months of the current financial year was $1.02 billion, up 18% from last year.

Papa John’s Gains After Largest Franchise Deal for Rollout of 100 Stores

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Explore

Up Next

Discover

Other Articles