News

Papa John's loses Trian interest, report says

November 28, 2018

The entity that the Wall Street Journal has said was looking into buying the troubled Papa John's brand, Trian Fund Management, has now opted out of the potential acquisition, the paper said. There are other companies checking out the Louisville-based pizza brand, but only in the interest of a possible stake in the brand rather than a total acquisition, the paper reported. 

All this, of course, follows the July ousting of the company's founder and chair, John Schnatter, after news leaked that he used a racial slur in a May media training call. But this latest loss of a potential bidder has left the brand's value falling still more on the Nasdaq, after Q3 losses totaling $13 million this year.

Papa John's refuses to comment on any of what it calls "market rumors."