Papa John’s Gets $1.5B Take‑Private Bid From Qatari‑Backed Fund

Papa John’s International has received a new takeover approach as a Qatari‑backed investment fund moves to take the U.S. pizza chain private. Irth Capital Management has submitted a proposal offering $47 per share, valuing the company at roughly $1.5 billion.

According to reports, the bid is supported by Brookfield Asset Management and represents a premium of around 50% compared with Papa John’s trading price before the proposal surfaced. Following the news, shares of Papa John’s surged sharply as investors reacted to the potential buyout.

Sources familiar with the matter say the company is currently reviewing the proposal and evaluating its strategic options. Irth Capital has reportedly built a stake of about 10% in Papa John’s, reflecting its strategy of acquiring minority positions in public companies before pursuing full takeovers.

Papa John’s operates around 6,000 restaurants worldwide but has faced slowing demand and cost pressures in recent periods. The company has been implementing restructuring and cost‑cutting initiatives, and a potential take‑private deal could play a significant role in reshaping its long‑term strategy.