Papa John’s International, Inc. (NASDAQ: PZZA) today announced the acquisition of 56 franchised Papa John’s restaurants in the Denver and Minneapolis markets. With the immediate sale of six of the Denver restaurants to an area franchisee, the transaction results in the net acquisition of 50 restaurants (21 in Denver and 29 in Minneapolis) by the company for $5.1 million.
“We are excited about acquiring these two markets,” said Tony Thompson, Papa John’s Executive Vice President, Global Operations. “With our strong corporate operations team and ability to invest, we look forward to continuing to deliver on our ‘Better Ingredients. Better Pizza.’ brand promise to our customers and growing these markets.”
The acquisition is not expected to have a material impact on operating results for 2012.