Papa John's Pizza buys 43 Arizona franchised units

LOUISVILLE, Ky. — Papa John's purchased 43 franchised units located in and around the Phoenix and Flagstaff, Ariz., markets from two related franchise groups. According to a news release, the purchase price was $18.4 million.

"We are pleased to acquire these Papa John's restaurants in this fast-growing region," said Bill Van Epps, president of Papa John's USA. "These are very solid markets for Papa John's and present us with future growth opportunities both in terms of restaurant sales and new unit openings."

The company expects to open an additional four to six restaurants in this market over the next two to three years.