TVS Cap to sell Papa John’s Pizza India operation
MUMBAI:
Private equity firm TVS Capital has started a process to sell majority
shares in the Indian operations of Papa John's Pizza, the world's third
largest pizza restaurant chain, said people directly aware of the
matter.
TVS fund holds a controlling stake in Om Pizzas and Eats, the struggling franchisee of Papa John's, and plans to offload shares to prominent Indian business families or buyout funds. The Nasdaq-listed Papa John's runs more than 4,000 outlets globally with revenues topping $1 billion, and is the largest takeout and delivery network worldwide after Pizza Hut and Domino's Pizza.
TVS fund holds a controlling stake in Om Pizzas and Eats, the struggling franchisee of Papa John's, and plans to offload shares to prominent Indian business families or buyout funds. The Nasdaq-listed Papa John's runs more than 4,000 outlets globally with revenues topping $1 billion, and is the largest takeout and delivery network worldwide after Pizza Hut and Domino's Pizza.
ALOK KUMAR
PGDM IISEM
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