- Papa John's International Inc PZZA has signed a franchisee development agreement with Sun Holdings, Inc. The financial terms of the deal were not disclosed.
- Under the terms of the deal, Sun Holdings will oversee the opening of 100 new stores in high-growth markets across Texas by 2029.
- Dallas-based Sun Holdings, founded by Guillermo Perales, currently supports more than 1,000 locations across 12 states.
- "Papa John's development flywheel has started to take off," said Chief Development Officer Amanda Clark.
- Price Action: PZZA shares closed lower by 2.70% at $125.19 on Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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