Papa Johns Completes Strategic Refranchising and New Restaurant Development Agreement with Franchisee Chris Patel of Pie Investments

Core Viewpoint - Papa John's International, Inc. has refranchised 85 restaurants previously owned by Colonel's Limited, LLC, enhancing its franchise operations in the Washington, D.C. and Baltimore markets [1] Group 1: Company Actions - The company has entered into a refranchising agreement with Pie Investments, led by Chris Patel, who is now one of Papa John's largest domestic franchise partners [1] - The refranchising involves a total of 85 Papa John's restaurants, indicating a strategic move to strengthen its franchise network [1] Group 2: Market Impact - This refranchising effort is expected to bolster Papa John's presence in key urban markets, specifically Washington, D.C. and Baltimore, which may lead to increased market share and brand visibility [1]