News

Franchisee acquires two California Papa John’s locations

September 30, 2014

Dixie Foods International Inc. has reached an agreement to acquire two existing Papa John's franchise locations in the Fresno, California, area. The two locations to be acquired currently generate annual revenues in excess of $1,000,000 and are profitable, according to a news release.

DIXI currently has four additional locations under construction in the Fresno and Sacramento areas as part of its Area Development Agreements with Papa John's International to build at least 25 locations by the end of 2015 in trade areas stretching from Fresno to north of Sacramento.

The franchisee is headquartered in Las Vegas and, through its recently-acquired KCI Investments LLC, currently operates 13 franchised Capriotti's Sandwich Shops. KCI also manages Elements Kitchen and Martini Bar and has a number of additional Capriotti's locations and one Alex Stratta Italian Steakhouse in various phases of development and construction.

"These acquisitions represent a natural extension of our plans for the development of the Papa John's brand in the Fresno market and gives us exclusive control of that market," DIXI CEO Ken Antos said in the release.  "We anticipate consummating the acquisition this year through our PRB I, LLC subsidiary – to coincide with our anticipated opening of our first seven locations in Northern California."