The deal will propel the pizza franchise’s presence in Texas.
Papa John’s International, Inc. has announced its largest-ever domestic development deal in partnership with Sun Holdings, to open 100 new stores throughout Texas by 2029.
Sun Holdings is a multi-brand franchise operator that has more than 1,000 locations under its guidance in 12 U.S. states. It is currently ranked as the third-largest franchisee in the U.S., with its founder, Guillermo Perales, being IFA’s Entrepreneur of the Year.
“Papa John’s development flywheel has started to take off,” said Amanda Clark, Papa John’s chief development officer. “With industry-leading paybacks and our key strategy of making it easy for franchisees to say yes to developing, we can attract great new partners to our brand. We’re excited to launch this milestone partnership with Guillermo and his team at Sun Holdings in Texas.
“Sun Holdings is a successful and well-financed operator who understands the Texas market and brings deep expertise within the QSR space that will benefit the entire Papa John’s system.”
In the first half of 2021 alone, Papa John’s has reported record net unit growth, and a flurry of new locations to broaden its franchisee network. Recently, the company also announced a development in partnership with Drake Food Service International to open 220 additional restaurants throughout key international markets, including Latin America, Spain, Portugal, and the U.K.
“Since its founding, Sun Holdings has taken a long-term, disciplined approach when making growth investments. Papa John’s fits our criteria perfectly,” said Guillermo Perlaes, president and CEO of Sun Holdings. “We see tremendous potential in this premium brand, backed by an innovative culture and highly attractive economics. We know Texas well and see an immense opportunity to grow Papa John’s across this dynamic region.”
Founded in 1984, Papa John’s International, Inc. Has more than 5,500 restaurants in 49 countries and territories.