PZZA - Papa John's plans large presence in India with 650 new restaurants by 2033

2023-04-04 08:19:20 ET

Papa John's International ( NASDAQ: PZZA ) announced an expanded partnership with international franchisee partner PJP Investments Group to open 650 restaurants in India by 2033.

The pizza operator said the first of the new restaurants is scheduled to open in 2024 in Bangalore, followed by openings in other cities in South India and then across other regions of the country.

India is seen by Papa John's ( PZZA ) as an attractive market due to its large population and rising aspirations of its middle class.

PJP Investments Group currently operates more than 100 Papa Johns restaurants across the UAE, Saudi Arabia and Jordan. The franchisee will also open the first Papa Johns location in Iraq in 2024. Within the next 10 years, PJP Investments plans to operate nearly 1,000 Papa Johns restaurants.

See the underlying growth metrics on Papa John's International.

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