Om Pizza & Eats Pvt Ltd, the Indian franchisee of Papa John’s International, on Tuesday, acquired the local rival Pizza Corner for an undisclosed amount. Pizza Corner is the third largest pizza chain in India operating around 70 outlets.
Om Pizza & Eats Pvt Ltd., promoted by Atulya Mittal, is backed by PE firm TVS Capital and the Jawad group of Bahrain.
As part of the acquisition, Papa John’s will convert the existing Pizza Corner stores to Papa John’s branded restaurants through first quarter of 2015.
Papa John’s has now fifteen operating restaurants across India. With this deal, Papa John’s will have 90 stores in India by the first quarter of 2015.
Greater penetration“This deal allows Papa John’s greater penetration in the three leading southern cities of Bengaluru, Hyderabad and Chennai,” the company said in a statement.
Geneva-based Global Franchise Architects (GFA), the current owner of Pizza Corner, also operates Donut Baker, Cream and Fudge and Coffee World. At present, GFA has 120 stores across its four brands in India. Joseph Cherian, who is the present CEO of GFA, will take over as the CEO at Papa John’s India while remaining a key board member at GFA
“This consolidation is a unique opportunity for Papa John’s to take a major pie in the market share in the Indian pizza segment. Through this merger with a leading brand such as Papa John’s, we have a phenomenal opportunity to meet growing demand by combining Papa John’s world-class pedigree with Pizza Corner’s local expertise. We are confident that both brands can complement each other and implement their expertise,’’ said GFA Global CEO Joseph Cherian.
