Papa John’s International (PZZA), the country’s fourth-largest pizza chain, is now the talk of the town with takeover rumors swirling, according to Semafor. On Thursday, Feb. 13, PZZA stock edged up 18.4% after reports surfaced that Qatar-based investment firm Irth Capital Management was eyeing a bid to take the pizza chain private. The fund already holds a 4.99% stake, just shy of the disclosure threshold.
Private equity firms are feasting on struggling-yet-recognizable brands, and Irth Capital, known for acquisitions like Bojangles and Casper, has a history of breathing new life into companies. But with inflation, changing consumer habits, and fierce competition slicing into profits, the stakes are high.
