Papa John’s International, Inc. (NASDAQ:PZZA), continues its expansion in Colombia with the signing of a restaurant development agreement. According to the International Trade Administration, the food and beverage sector holds the best growth opportunities in Colombia.
Grupo Nutresa, which purchased PJ Col S.A.S. in 2015 (PJ Col), recently entered into a development agreement to open an additional 28 units during a period of eight years in Medellin, Cartagena and Barranquilla. PJ Col currently operates 29 Papa John’s restaurants throughout Colombia. Each Papa John’s new store opening represents approximately 15 to 20 direct new jobs in Colombia.
“Our investment in Papa John’s has exceeded our expectations and we are continuing our momentum by planning for additional units in our country,” said Felipe Baquero, Managing Director of PJ Col. “More units means more jobs in the local communities.”
“PJ Col has done a great job of growing the Papa John’s Brand in Colombia and we are excited about the plans for future expansion,” said Tim O’Hern, Senior Vice President & Chief Development Officer. “We look forward to working with PJ Col as we expand the brand into new cities in Colombia.”
Papa John’s International is currently looking for potential franchisees in Brazil, the Caribbean and Honduras.Headquartered in Louisville, Kentucky, Papa John's International, Inc. (NASDAQ:PZZA) is the world's third-largest pizza delivery company.
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