LOUISVILLE, Ky.--(BUSINESS WIRE)--Jun. 28, 2018--
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
“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.
Looking to be a part of something Better? Join the Papa John’s Pizza
family at www.papajohns.com/franchise.
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Source: Papa John's International, Inc.
Papa John’s International, Inc.
Peter Collins, 502-261-4233
Director, Public Relations