Expansion in South Asia will introduce an enormous new customer base, says Vaidya
Atlanta-headquartered Papa John’s International, Inc. (NASDAQ: PZZA) is to open 650 restaurants in India by 2033 through an expanded partnership with PJP Investments Group (PJP) of Dubai.
India is an attractive market for Papa Johns, given the country’s significant size, as well as the burgeoning income and rising aspirations of its middle class, said Papa John’s which is scheduled to open the first restaurants in Bangalore next year.
Then onwards restaurants will be opened in other South Indian cities, followed by across the country.
“Papa John’s global momentum continues, in partnership with seasoned, successful restaurant operators like PJP Investments,” said Amanda Clark, Papa John’s Chief International and Development Officer.
“PJP Investments first partnered with Papa John’s to expand into the UAE in 2005. We are excited that their commitment to flawless execution of Papa John’s high standards is now being brought to India,” Clark said on 4 Apr 2023.
PJP Investments Group, one of Papa John’s longest-tenured international franchisee partners, will also open the first Papa John’s location in Iraq in 2024.
Lead by CEO Tapan Vaidya, PJP is among the first Papa John’s international franchisees to adopt a new, more modern design for international restaurants that is elevating the Papa John’s experience around the globe.
Vaidya elaborated, “Building on the success of our partnership with Papa John’s in the Middle East, this expansion of the renowned brand in South Asia will introduce an enormous new customer base to the superior quality pizza that can come only from high-quality ingredients and our fresh, never-frozen original dough.”
Within the next 10 years, PJP Investments plans to operate nearly 1,000 Papa John’s restaurants.
In recent years, Papa John’s has attracted new international franchisees, like FountainVest Partners, one of Asia’s leading independent private equity firms, planning to open more than 1,750 new Papa John’s restaurants in China by 2040, as well as expanded agreements with existing franchisees.
Papa John’s opened its doors in 1984 with one goal in mind: BETTER INGREDIENTS. BETTER PIZZA.
It operates more than 5,700 restaurants in approximately 50 countries and territories as of Dec 2022.
PJP Investments Group is owned by Levant Capital, a Dubai-based, leading private equity investment firm. It currently operates more than 100 Papa John’s restaurants across the United Arab Emirates, Saudi Arabia and Jordan. fiinews.com
