Company merges with Pizza Corner to improve presence in Southern
LOUISVILLE, Ky.--(BUSINESS WIRE)--
Papa John's, Avan Projects and Global Franchise Architects (GFA) today
announced the acquisition of Pizza Corner stores in South India. Papa
John's will convert the existing Pizza Corner stores to Papa John's
branded restaurants through Q1 2015. The announcement reinforces Papa
John's commitment to expand its presence in India, specifically in
Bangalore, Chennai and Hyderabad.
Pizza Corner, part of the GFA brands, is the third largest pizza chain
in Southern India. The city of Chennai has proven to be the most
successful market for the Pizza Corner chain, a success that Papa John's
plans to replicate in all three major South Indian cities. Papa John's
currently has fifteen operating restaurants across India through its
Master Franchisee for the region, Om Pizza and Eats. Through this
merger, Papa John's will significantly expand its presence by a minimum
of 40 stores with conversions beginning in late 2014 and continuing into
The QSR segment in India is a $2.5 Billion industry, accounting for 43
percent of the overall Food Services business in India and growing at a
rate of approximately 25 percent; it's the fastest growing segment
within the food industry. There is tremendous growth opportunity with
the Pizza segment.
"We are energized about this accelerated International expansion for
Papa John's in Southern India," said John Schnatter, Founder and CEO of
Papa John's. "The merger provides us the opportunity to penetrate the
market at a much more rapid pace, and increase our scale in a shorter
Joseph Cherian, CEO of GFA Global said "The Indian fast-food market is
valued at $50 billion from Rs$35 billion last year according to a latest
ASSOCHAM survey. This consolidation is a unique opportunity for Papa
John's to take a major pie in the market share in the Indian pizza
segment. Owing to a majority of younger population under 30 with a
liking for international food gives us the right opportunity to address
the need gap for true international brands. Through this merger with a
leading brand such as Papa John's, we have a phenomenal opportunity to
meet growing demands by combining Papa John's world class pedigree with
Pizza Corner's local expertise. We are confident that both the brands
can complement each other and implement their expertise."
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
13 of the past 15 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 XLIX. For more
information about the company or to order pizza online, visit Papa
John's at www.papajohns.com.
Also visit us on Facebook at www.facebook.com/PapaJohns,
or on Twitter at http://twitter.com/PapaJohns.
Avan Projects, owned by the Mittal family in India, holds the Master
Franchise Agreement for Papa John's in India through its subsidiary, Om
Pizza and Eats. Avan is led by Atulya Mittal and is focused on
capitalizing on the consumption-driven growth story in India.
About Global Franchise Architects
Founded by serial entrepreneur Fred Mouawad, Global Franchise Architects
is a Geneva, Switzerland-based group that builds, operates and
franchises a select portfolio of leading-edge specialty food service
brands. A pioneer in launching new food service brands, GFA launched its
first brand in India - Pizza Corner in Chennai in 1996 - and its
portfolio in India consists of Pizza Corner, Donut Baker, Cream and
Fudge and Coffee World. Currently GFA has 120 Stores across its four
brands in India. Globally it has over 250 stores in 6 countries.
For Papa John's International, Inc.
Michael McCullough, 404-832-6782
Source: Papa John's International, Inc.
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