News

Papa John's sells 34 China locations

June 28, 2018

Papa John's International has sold its 34 restaurants in Beijing and Tianjin, China, to a portfolio company of private equity firm, Advantage Partners, called Asia Gourmet Holdings, a news release said.

"Asia Gourmet Holdings (Shanghai) is an experienced and successful operator with significant interests in the restaurant industry in China," Papa John's International President Tim O'Hern, said in the release

Asia Gourmet Holdings Chairman Nam Jeongil said there are ample opportunities for the brand in the two cities. 

"We will apply Asia Gourmet Holding's knowledge of the region and success with our existing restaurant concepts, such as Zheng Yi Wei, a leading chain of restaurants offering Korean cuisine, to the Papa John's business," he said. 

The sale closed June 15.