Papa John's Expands To Germany Via Franchise Partner

Papa John’s International Inc PZZA, in partnership with its franchise partner PJ Western Group, announced its expansion into Germany.
Papa John’s plans to open 250 restaurants in the German market over the next seven years.
PJ Western Group has opened the first seven Papa John’s in Magdeburg and Leipzig and plans to open another six stores in Halle and Merseburg by the end of the summer.
“This expansion into Germany follows a record year of sales and growth that has positioned Papa John’s to further accelerate development in international markets,” said Papa John’s CEO Jack Swaysland.
Papa John’s is currently in 50 international countries.
Stephens maintained an Overweight rating on Papa John’s with a price target of $115.
Price action: PZZA shares closed higher by 0.19 at $104.65 on Tuesday.

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