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Papa John\u2019s International is reportedly reviewing a new proposal to take the company private in a potential $1.5 billion acquisition, according to Reuters.\u00a0<\/p>\n
Irth Capital Management, a Qatari-backed investment fund supported by Brookfield Asset Management, reportedly submitted the proposal on Wednesday, offering $47 per share, a 44% premium over the stock\u2019s most recent closing price.<\/p>\n
Following the announcement, the stock surged by a significant 15%, closing around $38.86.\u00a0<\/p>\n
The bid comes after Papa John\u2019s has been pursuing a turnaround strategy following years of weak demand under multiple CEOs.<\/p>\n
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Papa John’s International Inc. signage is displayed on top of a delivery vehicle. (Luke Sharrett\/Bloomberg via Getty Images \/ Getty Images)<\/p>\n
Irth Capital, a relatively new firm founded in 2024 and backed by a member of the Qatari royal family, reportedly already holds about a 10% stake in Papa John\u2019s.\u00a0<\/p>\n
Led by co-founders Sheikh Mohamed bin Abdulla Al-Thani and Matthew Bradshaw, the firm is working alongside Brookfield Asset Management on a high-stakes offer that, if successful, would mark one of Irth\u2019s first major transactions, Reuters said.<\/p>\n
Ticker Security Last Change Change % PZZA PAPA JOHN’S INTERNATIONAL INC. 38.86 +6.32
\n +19.42%<\/p>\n
The potential acquisition would become one of the firm\u2019s first major deals, following a period of financial recovery and previous failed buyout attempts by other investors, including Apollo Global, which had partnered with Irth last year on a joint offer exceeding $60 per share.<\/p>\n
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Papa John’s Dragon Flame Pizza is seen in an advertisement. (Papa John’s)<\/p>\n
Mounting speculation about the company\u2019s future has also prompted activist investor Irenic Capital Management to build a stake in the pizza chain, according to the outlet.\u00a0<\/p>\n
While the bid is significant,\u00a0there is no guarantee of an agreement as the pizza giant remains open to other\u00a0potential buyers.\u00a0<\/p>\n
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Papa John Schnatter is the founder and former chairman and CEO of Papa John\u2019s International (PZZA).<\/p>\n
Papa John’s has previously struggled with weak consumer spending and tough competition in the pizza industry, specifically among North American restaurants.<\/p>\n
In the last quarter, the company reported a 5.4% drop in North American same-store sales. To improve profitability, it announced plans to close roughly 300 underperforming restaurants in the region by the end of 2027.<\/p>\n
Reuters contributed to this report.<\/p>\n
#Papa #Johns #reviews #billion #takeover #bid #Qataribacked #fund<\/p>\n","protected":false},"excerpt":{"rendered":"
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