Papa John’s International Completes Sale Of China Restaurants

LOUISVILLE, Ky. - (BUSINESS WIRE) - June 28, 2018 - Papa John's International, Inc. (NASDAQ: PZZA), today announced the sale of its restaurants in Beijing and Tianjin, China.

Papa John’s China LLC sold its ownership of all 34 locations in Beijing and Tianjin to Asia Gourmet Holdings (Shanghai) CO., LTD., a portfolio company of Advantage Partners, a leading private equity firm in Asia.

“Asia Gourmet Holdings (Shanghai) is an experienced and successful operator with significant interests in the restaurant industry in China,” said Tim O’Hern, President, International, Papa John’s. “The new franchisee shares our commitment to quality and will represent our BETTER INGREDIENTS. BETTER PIZZA. brand promise well moving forward in the region.”

“We are excited to work together with Papa John’s and further build upon the tradition of quality ingredients and strong customer service they have created in China,” said Nam Jeongil, Chairman of Asia Gourmet Holdings (Shanghai) CO., LTD. “There is a bounty of opportunities for Papa John’s in Beijing and Tianjin. We will apply Asia Gourmet Holding’s knowledge of the region and success with our existing restaurant concepts, such as Zheng Yi Wei, a leading chain of restaurants offering Korean cuisine, to the Papa John’s business.”

The sale was completed on June 15, 2018.

About Papa John’s

Headquartered in Louisville, Kentucky, Papa John's International, Inc. (NASDAQ: PZZA) is the world's third-largest pizza delivery company. For 16 of the past 18 years, consumers have rated Papa John's No. 1 in customer satisfaction among all national pizza chains in the American Customer Satisfaction Index (ACSI). For more information about the company or to order pizza online, visit Papa John's at www.papajohns.com.

Contact:

Peter Collins
Papa John’s International, Inc.
502-261-4233
Senior Director, Public Relations
peter_collins@papajohns.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20180628005032/en/

Source: Papa John's International, Inc.

###

Comments:

comments powered by Disqus

Franchise News Room »


News By Industry »


Featured Opportunities

Pancheros Mexican Grill
Panchero's is a quick-serve, fresh-Mexican franchise founded in 1992, famous for serving tortillas pressed fresh right before its customers' eyes...
Lightbridge Academy
Lightbridge Academy has a way of making parents and children feel like they’re special. Here, they are surrounded by a Circle of Care that’s more...
Kona Ice
We have a question for you. What determines the success of a franchise? Is it luck? Coincidence? Kona Ice was ranked #1 New Franchise in Entrepreneur...
RetroFitness
Retro Fitness is well positioned for today's economy and to dominate the low cost segment by offering a high quality and value add product in...
Wayback Burgers
Wayback Burgers is strategically poised to grow dynamically. This could be your opportunity to partner with a leader in a rapidly growing food market...
Share This Page

Subscribe to Franchising Express

A Franchise Update Media Production
Franchise Update Media
P.O. Box 20547
San Jose, CA 95160
PH. (408) 402-5681
In Loving Memory Of Timothy Gardner (1987-2014)

Copyright © 2001 - 2018.
All Rights Reserved.