Papa John's Expands Footprint With Major Refranchising Deal - Papa John's International (NASDAQ:PZZA)

Papa John’s International, Inc. (NASDAQ:PZZA) shares rose Wednesday after the company revealed a major refranchising move.The firm said longtime franchisee Pie Investments took over 85 stores formerly run by Colonel’s Limited, LLC, and committed to launching 52 more outlets by 2030.The acquired restaurants cover markets around Washington, D.C. and Baltimore. Pie Investments now runs over 150 Papa John’s restaurants. The group said it aims to own 250 total outlets by 2030.Also Read: This Domino’s Pizza Rival ...