Papa John's Inks Refranchising Agreement With Sun Holdings

• Papa John's International Inc (NASDAQ:PZZA) has re-franchised its majority stake in a joint venture between Papa Johns and Blue and Silver Ventures Ltd. The financial terms of the transaction were not disclosed.
• Sun Holdings, one of Papa Johns largest domestic franchise partners, has assumed control of 90 Papa Johns restaurants in Texas.
• Blue and Silver Ventures will continue to be a limited partner in the venture, and their share of ownership will remain unchanged.
• "Sun Holdings is a proven, well-capitalized operator who understands our ambitious goals to expand the footprint of our brand," said Amanda Clark, Papa John's Chief Development Officer.
• Price Action: PZZA shares are trading lower by 0.39% at $105.30 on the last check Thursday.