Avan Projects Pvt. Ltd. Purchases Controlling Interest of Papa John's India
LOUISVILLE, Ky. - December 9, 2013 - (BUSINESS WIRE) - Papa John's, the world's third-largest pizza delivery company, today announced that Avan Projects Pvt. Ltd., has purchased a majority interest in OM Pizza & Eats, Papa John's franchisee in India. As a result, Avan Projects will take over the day-to-day operations of all Papa John's restaurants in India, and has development rights for certain regions of the country.
Avan Projects is led by Atulya Mittal whose family has significant business interests primarily in metals and mining. "This is a terrific opportunity," said Mittal. "With Papa John's support and our experience in India, we are confident of making the brand a success in the country."
"We are excited about the potential Avan Projects' investment brings to Papa John's in India," said Tony Thompson, Papa John's president and COO. "Led by Atulya Mittal, Avan Projects has a keen insight into the Indian market and consumer. With a strong infrastructure in place, we are confident Avan Projects will be able to improve operations and grow the brand throughout the country."
At the end of the third quarter, Papa John's had 4,296 restaurants open in 35 countries and territories. The company began its international operations 14 years ago, and has increasingly looked to key international markets like India for growth.
"We've spent a great deal of time methodically growing our international operations over the past 14 years," said Tim O'Hern, Papa John's chief development officer. "India is a key growth market for us and with Avan Projects we are optimistic that we can continue to grow the brand and bring a better pizza experience to more and more consumers throughout the country."
About Papa John's International, Inc.
Headquartered in Louisville, Kentucky, Papa John's International, Inc. (NASDAQ: PZZA) is the world's third largest pizza delivery company. For 12 of the past 14 years, consumers have rated Papa John's No. 1 in customer satisfaction among all national pizza chains in the American Customer Satisfaction Index (ACSI). Papa John's is the Official Pizza Sponsor of the National Football League and Super Bowl XLVIII. For more information about the company or to order pizza online, visit Papa John's at www.papajohns.com, or visit us on Facebook at www.facebook.com/PapaJohns, on Twitter at http://twitter.com/PapaJohns.
Papa John's International, Inc.
Source: Papa John's International, Inc.
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