Papa John's Eyes Large Presence In India By 2033; Expands Partnership With PJP Investments

Papa John's International PZZA has expanded its partnership with PJP Investments Group to open 650 restaurants in India by 2033.
"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," the company said.
The first of these new restaurants is scheduled to open in 2024 in Bangalore. The company also plans to expand to other cities in South India and then across other regions.
PJP Investments Group, which currently operates more than 100 Papa John's restaurants across the UAE, Saudi Arabia, and Jordan, will open the first Papa Johns location in Iraq in 2024.
PJP Investments plans to operate nearly 1,000 Papa John's restaurants within the next ten years.
Papa John's has attracted new international franchisees in recent years, like FountainVest Partners, which plans to open more than 1,750 new Papa John's restaurants in China by 2040.
Price Action: PZZA shares are trading lower by 0.93% at $74.52 on the last check Tuesday.