Papa Johns sells majority stake in 90-unit Texas joint venture to Sun Holdings, one of its largest franchisees

Papa Johns sells majority stake in 90-unit Texas joint venture to Sun Holdings

Sun Holdings’ purchase of 90 restaurants from Papa Johns comes on heels of 100-unit development agreement with pizza franchisor

Papa Johns has sold its majority stake in 90 Papa Johns restaurants in Texas to Sun Holdings, one of the pizza chain’s largest franchisees. In the joint venture between Papa Johns and Blue and Silver Ventures, Ltd., the latter’s share will stay the same.

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Papa John’s grew revenues 17.1 percent to $472.9M and comp sales by 23.8 percent year over year, continuing its latest string of solid sales growth The pizza chain has been focusing on diversifying its menu

Papa John’s maps road to continued success as comp sales increase 23.8 pct in 3Q

As pizza chain adds new corporate stores, it also considers refranchising

Papa John’s grew revenues 17.1 percent to $472.9M and comp(arable) sales by 23.8 percent year over year during its third quarter of 2020, continuing its latest string of solid sales growth The pizza chain has been focusing on diversifying its menu through new introductions and limited-time offers. What resulted was an increase in ticket and an expansion of sales while growing channels, including third party delivery, where mix has tripled from 2 percent to 6 percent over the last six months, noted executives on a third-quarter earnings call.

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