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- Papa John’s Worldwide Inc PZZA has acquired the eating places beforehand operated by the M25 division of Drake Meals Service Worldwide (DFSI) within the U.Ok. Monetary phrases of the transaction weren’t disclosed.
- The transition of eating places will set up a portfolio of company-owned eating places available in the market.
- Papa John’s plans to make working mannequin enhancements to enhance gross sales and restaurant-level profitability.
- “The U.Ok. is essential inside our worldwide footprint with the most important variety of shops exterior of North America, robust model consciousness with customers and potential for long-term development as we nonetheless have super whitespace available in the market,” stated Amanda Clark, Chief Worldwide and Growth Officer for Papa Johns.
- The brand new corporate-owned restaurant portfolio will include 91 areas throughout London and different elements of the U.Ok.
- As a part of the transition, about 1,000 workers working for DFSI M25 will develop into workforce members of the corporate.
- DFSI will proceed to carry its grasp franchise rights for Papa Johns in Spain, Portugal, Chile and Central America.
- Papa John’s held $46.7 million in money and equivalents as of March 26, 2023.
- Worth Motion: PZZA shares closed larger by 4.50% at $71.82 on Friday.
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