The pizza chain plans to open over 1,350 stores in South China by 2040 in partnership with the Asian private equity firm FountainVest Partners, it said on Friday
. The deal will increase Papa Johns current global count by 25%, and marks the largest franchisee development agreement in the pizza company's history. Pizza companies have lately been expanding their footsteps in the region, where they see an opportunity to boost sales. Pizza Hut, for example, opened 103 new stores in China in the third quarter.
Read MorePapa Johns has a"huge development opportunity in markets where we already compete, but are much less penetrated," compared to the competitors, Lynch said at the time."I would offer China as an example," Papa Johns has also been expanding into other regions. In November, the company announced plans to open 60 restaurants in Kenya in Uganda in the coming years along with franchise partner Kitchen Express.
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