Papa John’s International, Inc. (Nasdaq: PZZA – News) today announced the signing of development agreements to open 57 additional Papa John’s restaurants throughout Canada.
The agreements call for 20 restaurants to be built throughout the Atlantic Provinces by franchisee PJ Atlantic Franchising Ltd., and 10 to be built in Saskatchewan by MJ Taylor Holding Company. Additionally, Bajco LLC has agreed to build 15 restaurants in Western Ontario, with PDR Associates Inc., committed to build an additional 12 units in Eastern Ontario. Each franchise group has committed to opening one or more restaurants in 2008.
“Canada is a key focus area for our international expansion, and these multi-unit franchise operators will help us further establish a strong foothold in that country,” said David Flanery, Papa John’s chief financial officer and managing director, international. “There’s a growing demand for better quality pizza in Canada.”
There currently are 14 Papa John’s restaurants open throughout Western Canada, and more than 3,200 open worldwide, including 450 international restaurants in 28 countries.
