Papa John's Acquires Drake Food Service's Restaurants In UK For Undisclosed Sum
Portfolio Pulse from Shivani Kumaresan
Papa John's International Inc (NASDAQ:PZZA) has acquired the M25 division of Drake Food Service International's restaurants in the UK. The deal will establish a portfolio of 91 company-owned restaurants across London and other parts of the UK, with about 1,000 employees transitioning to Papa John's.
June 05, 2023 | 9:35 am
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Papa John's acquires UK restaurants from Drake Food Service, expanding its company-owned portfolio by 91 locations.
The acquisition of the M25 division of Drake Food Service International's restaurants in the UK will expand Papa John's company-owned portfolio and potentially improve sales and profitability. This expansion in the UK market, which has strong brand awareness and growth potential, is likely to have a positive short-term impact on PZZA's stock price.
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