{"id":913893,"date":"2025-11-25T17:34:01","date_gmt":"2025-11-25T22:34:01","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/papa-johns-completes-strategic-refranchising-and-new-restaurant-development-agreement-with-franchisee-chris-patel-of-pie-investments\/"},"modified":"2025-11-25T17:34:01","modified_gmt":"2025-11-25T22:34:01","slug":"papa-johns-completes-strategic-refranchising-and-new-restaurant-development-agreement-with-franchisee-chris-patel-of-pie-investments","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/papa-johns-completes-strategic-refranchising-and-new-restaurant-development-agreement-with-franchisee-chris-patel-of-pie-investments\/","title":{"rendered":"Papa Johns Completes Strategic Refranchising and New Restaurant Development Agreement with Franchisee Chris Patel of Pie Investments"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Papa Johns Completes Strategic Refranchising and New Restaurant Development Agreement with Franchisee Chris Patel of Pie Investments<\/b><\/p>\n<p class=\"bwalignc\"><i>Patel, who announced plans to open an additional 52 new restaurants by 2030, will assume ownership and operation of 85 restaurants previously operated by Colonel\u2019s Limited, LLC<\/i><\/p>\n<p>ATLANTA&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nPapa John\u2019s International, Inc. (Nasdaq: PZZA) (\u201cPapa Johns\u00ae\u201d) (the \u201cCompany\u201d) today announced that it has refranchised restaurants previously owned and operated by Colonel\u2019s Limited, LLC, a joint venture between Papa Johns and Steeplechase Express, Inc. Pie Investments, led by Chris Patel, a leading franchisee operator and now one of Papa Johns largest domestic franchise partners, has assumed control of 85 Papa Johns restaurants in the Washington, D.C. and Baltimore markets. Through a joint venture with Papa Johns, the restaurants were previously owned and operated by Colonel\u2019s Limited, LLC, led by William Freitas, one of Papa Johns longest-standing franchisee partners, who is retiring. Papa Johns and Pie Investments also announced plans to open 52 additional new restaurants by 2030 to expand Papa Johns footprint across the Greater Philadelphia, Washington, D.C. and Baltimore markets.\n<\/p>\n<p>\nThe strategic refranchising follows a period of growth for Patel and Pie Investments, who operate Papa Johns restaurants across the Northeast. With this refranchising, Pie Investments now operates more than 150 Papa Johns restaurants, furthering Pie Investments\u2019 goal of owning 250 restaurants by 2030.\n<\/p>\n<p>\n\u201cChris Patel\u2019s growth mindset and entrepreneurial spirit are exactly the qualities Papa Johns is looking to emphasize among our franchisees as we work to be the best pizza makers in the business,\u201d said Ravi Thanawala, Chief Financial Officer and President, North America at Papa Johns. \u201cChris has built a team of leaders passionate about pizza, and his impressive record in acquiring restaurants and improving their profitability is well known across the Papa Johns system.\u201d\n<\/p>\n<p>\n\u201cPapa Johns well-known commitment to quality continues to make the brand an attractive investment for entrepreneurs,\u201d said Chris Patel, COO and equal partner of Pie Investments. \u201cPapa Johns leadership is empowering franchisees to drive success, with tools to elevate our operations and enhance our customer experience. We\u2019re looking forward to continued growth with Papa Johns and bringing the brand promise of Better Ingredients. Better Pizza. to new groups of pizza lovers.\u201d\n<\/p>\n<p>\nColonel\u2019s Limited, LLC, led by William Freitas and his family, opened its first Papa Johns restaurant in 1993, and helped grow Papa Johns into the world\u2019s third-largest pizza delivery company. The franchisee was one of the first pizza restaurant owners to embrace digital channels, enabling Papa Johns to become the first major pizza chain to offer online ordering.\n<\/p>\n<p>\n\u201cBill Freitas and his team at Colonel\u2019s Limited will be remembered as pioneers among those like Chris Patel who are following in their footsteps,\u201d Thanawala said.\n<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>\nCertain matters discussed in this press release which are not historical facts are \u201cforward-looking statements\u201d that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see \u201cPart I. Item 1A. &#8211; Risk Factors\u201d of the Annual Report on Form 10-K for the fiscal year ended December 29, 2024. We undertake no obligation to update publicly any forward-looking statements, whether as a result of future events, new information or otherwise.\n<\/p>\n<p><b>About Papa Johns<\/b><\/p>\n<p>\nPapa John\u2019s International, Inc. (Nasdaq: PZZA) opened its doors in 1984 with one goal in mind: BETTER INGREDIENTS. BETTER PIZZA.<sup>\u00ae<\/sup> Papa Johns believes that using high-quality ingredients leads to superior quality pizzas. Its original dough is made of only six ingredients and is fresh, never frozen. Papa Johns tops its pizzas with real cheese made from mozzarella, pizza sauce made with vine-ripened tomatoes that go from vine to can in the same day and meat free of fillers. It was the first national pizza delivery chain to announce the removal of artificial flavors and synthetic colors from its entire food menu. Papa Johns is co-headquartered in Atlanta, Ga. and Louisville, Ky. and is the world\u2019s third-largest pizza delivery company with approximately 6,000 restaurants in approximately 50 countries and territories. For more information about the company or to order pizza online, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.papajohns.com%2F&amp;esheet=54363869&amp;newsitemid=20251125536124&amp;lan=en-US&amp;anchor=www.PapaJohns.com&amp;index=1&amp;md5=d7d4db70199a3b9251f9aae11e0db6ff\">www.PapaJohns.com<\/a> or download the Papa Johns mobile app for iOS or Android.\n<\/p>\n<p><b>About Pie Investments<\/b><\/p>\n<p>\nPie Investments Management LLC now owns and operates more than 150 Papa Johns restaurants across six states, making it one of the system\u2019s fastest-growing franchise platforms. The company is committed to building high-performing teams, elevating the guest experience, and driving operational excellence throughout its portfolio. Pie Investments continues to invest in people, technology, and store-level operations to support disciplined, long-term growth within the Papa Johns system. With a performance-driven culture and a strong commitment to its communities, the company partners closely with its employees, brand leadership, and local neighborhoods to deliver exceptional results for guests and stakeholders alike.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20251125536124r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20251125536124\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20251125536124\/en\/<\/a><\/span><\/p>\n<p><span class=\"bwuline\">Investors:<\/span><\/p>\n<p>\nPapa Johns Investor Relations<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:investor_relations@papajohns.com\">investor_relations@papajohns.com<\/a><\/p>\n<p><span class=\"bwuline\">Media:<\/span><\/p>\n<p>\nHarrison Sheffield<br \/>\n<br \/>Sr. Communications Manager<br \/>\n<br \/>Papa John\u2019s International<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:Harrison_Sheffield@papajohns.com\">Harrison_Sheffield@papajohns.com<br \/>\n<\/a><br \/>470-751-4483\n<\/p>\n<p><b>KEYWORDS:<\/b> Maryland Georgia District of Columbia United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Retail Restaurant\/Bar Food\/Beverage<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20251125536124\/en\/1341299\/3\/WEB_USE_PJS_LOGO_BIBP_ARCH_HOR_2COLOR_RGB.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Papa Johns Completes Strategic Refranchising and New Restaurant Development Agreement with Franchisee Chris Patel of Pie Investments Patel, who announced plans to open an additional 52 new restaurants by 2030, will assume ownership and operation of 85 restaurants previously operated by Colonel\u2019s Limited, LLC ATLANTA&#8211;(BUSINESS WIRE)&#8211; Papa John\u2019s International, Inc. (Nasdaq: PZZA) (\u201cPapa Johns\u00ae\u201d) (the \u201cCompany\u201d) today announced that it has refranchised restaurants previously owned and operated by Colonel\u2019s Limited, LLC, a joint venture between Papa Johns and Steeplechase Express, Inc. Pie Investments, led by Chris Patel, a leading franchisee operator and now one of Papa Johns largest domestic franchise partners, has assumed control of 85 Papa Johns restaurants in the Washington, D.C. and Baltimore markets. Through a joint venture &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/papa-johns-completes-strategic-refranchising-and-new-restaurant-development-agreement-with-franchisee-chris-patel-of-pie-investments\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Papa Johns Completes Strategic Refranchising and New Restaurant Development Agreement with Franchisee Chris Patel of Pie Investments&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-913893","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Papa Johns Completes Strategic Refranchising and New Restaurant Development Agreement with Franchisee Chris Patel of Pie Investments - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/papa-johns-completes-strategic-refranchising-and-new-restaurant-development-agreement-with-franchisee-chris-patel-of-pie-investments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Papa Johns Completes Strategic Refranchising and New Restaurant Development Agreement with Franchisee Chris Patel of Pie Investments - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Papa Johns Completes Strategic Refranchising and New Restaurant Development Agreement with Franchisee Chris Patel of Pie Investments Patel, who announced plans to open an additional 52 new restaurants by 2030, will assume ownership and operation of 85 restaurants previously operated by Colonel\u2019s Limited, LLC ATLANTA&#8211;(BUSINESS WIRE)&#8211; Papa John\u2019s International, Inc. (Nasdaq: PZZA) (\u201cPapa Johns\u00ae\u201d) (the \u201cCompany\u201d) today announced that it has refranchised restaurants previously owned and operated by Colonel\u2019s Limited, LLC, a joint venture between Papa Johns and Steeplechase Express, Inc. Pie Investments, led by Chris Patel, a leading franchisee operator and now one of Papa Johns largest domestic franchise partners, has assumed control of 85 Papa Johns restaurants in the Washington, D.C. and Baltimore markets. 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(Nasdaq: PZZA) (\u201cPapa Johns\u00ae\u201d) (the \u201cCompany\u201d) today announced that it has refranchised restaurants previously owned and operated by Colonel\u2019s Limited, LLC, a joint venture between Papa Johns and Steeplechase Express, Inc. Pie Investments, led by Chris Patel, a leading franchisee operator and now one of Papa Johns largest domestic franchise partners, has assumed control of 85 Papa Johns restaurants in the Washington, D.C. and Baltimore markets. 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