RTTNews | Jan 7, 2022 06:43AM EST

06:42 Friday, January 7, 2022 (RTTNews.com) - Papa John's International, Inc. (PZZA), a pizza restaurant chain, on Thursday unveiled a partnership with FountainVest Partners, an independent private equity firm, to open more than 1,350 new stores across South China by 2040.

In addition, FountainVest has also purchased a majority stake in current Papa John's franchisee CFB Group, which owns and operates approximately 160 restaurants in Shanghai and across southern China. Amanda Clark, Papa John's Chief Development Officer, commented, "FountainVest is exactly the kind of partner we look to help grow our brand internationally. They are well-capitalized, experienced operators with deep knowledge of their local market. They clearly recognize our brand's promising outlook and strong unit economics"

In recent years, Papa John's has entered 15 new Asian and European countries, including Spain, Portugal, Germany, Cambodia, Pakistan, France, and Poland.

Read the original article on RTTNews ( https://www.rttnews.com/3253507/papa-john-s-joins-hands-with-fountainvest-to-open-over-1350-new-stores-in-china.aspx)

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