
Successful longtime franchisee partner has assumed ownership and operation of 28 restaurants formerly owned and operated by Papa Johns USA, Inc.


Papa John’s International, Inc. (NASDAQ:PZZA) (&#34;Papa Johns®&#34;)

<p xmlns="http://www.w3.org/1999/xhtml" class="bwalignc">
<i xmlns="http://www.w3.org/1999/xhtml">Successful longtime franchisee partner has assumed ownership and operation of 28 restaurants formerly owned and operated by Papa Johns USA, Inc.</i>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Papa John’s International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/PZZA">PZZA</a>) ("Papa Johns<sup xmlns="http://www.w3.org/1999/xhtml">&#xAE;</sup>") (the "Company") today announced that it has refranchised 28 formerly corporate-owned restaurants in the Orlando area, which are now owned and operated by PZZA Group, LLC and Magic City Pizzerias, LLC, both led by Wade Oney, a leading franchisee operator. The restaurants were previously owned and operated by Papa Johns USA, Inc. The sale of these restaurants furthers Papa Johns initiative to strategically refranchise corporate-owned restaurants in partnership with proven franchise partners.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The strategic refranchising follows a period of growth for Oney and his franchise organizations, who now own more than 120 Papa Johns restaurants after opening 10 new restaurants in 2025 across Central and South Florida. Since starting work at a pizza restaurant in 1981, he has held leadership positions at some of the world’s largest pizza companies, including serving as Chief Operations Officer at Papa Johns for six years, helping to grow the Papa Johns system to over 2,000 restaurants.

</p><p xmlns="http://www.w3.org/1999/xhtml">
"Wade and his team have long stood as a leading example to other franchise partners of operational excellence, customer service, team culture and community support," said John Matter, Global Chief Development Officer &amp; Assistant Corporate Secretary at Papa Johns.

</p><p xmlns="http://www.w3.org/1999/xhtml">
"Over my 35 years as part of the Papa Johns family, I’ve learned how the brand offers a great place to work, equips franchisees to grow, and overall, presents a solid investment opportunity depending on economic times and how well you operate and take care of the customer," said Wade Oney, Operating owner of PZZA Group, LLC and Magic City Pizzerias, LLC, as well as Bam-Bam Pizza, Inc., Oney Bayside, LLC and Coastal City Pizza, LLC. "We’re excited to expand our portfolio of Papa Johns restaurants and look forward to serving even more customers in Central Florida."

</p><p xmlns="http://www.w3.org/1999/xhtml">
Since becoming a franchisee partner of Papa Johns, Oney and his team have been named Franchisee of the Year multiple times by Papa Johns, and Oney has been inducted into the Papa Johns Hall of Fame. Earlier this year, Oney was honored with the Spirit of Franchising MVP (Most Valuable Performer) Award by Multi-Unit Franchisee magazine.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Forward-Looking Statements</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Certain matters discussed in this press release which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Part I. Item 1A. - Risk Factors" of the Annual Report on Form 10-K for the fiscal year ended December 28, 2025. We undertake no obligation to update publicly any forward-looking statements, whether as a result of future events, new information or otherwise.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About Papa Johns</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Papa John’s International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/PZZA">PZZA</a>) opened its doors in 1984 with one goal in mind: BETTER INGREDIENTS. BETTER PIZZA.<sup xmlns="http://www.w3.org/1999/xhtml">&#xAE;</sup> Papa Johns believes that using high-quality ingredients leads to superior quality pizzas. Its original dough is made of only six ingredients and is fresh, never frozen. Papa Johns tops its pizzas with real cheese made from mozzarella, pizza sauce made with vine-ripened tomatoes that go from vine to can in the same day and meat free of fillers. It was the first national pizza delivery chain to announce the removal of artificial flavors and synthetic colors from its entire food menu. Papa Johns is co-headquartered in Atlanta, Ga. and Louisville, Ky. and is the world’s third-largest pizza delivery company with approximately 6,000 restaurants in approximately 50 countries and territories. For more information about the company or to order pizza online, visit <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.papajohns.com%2F&amp;esheet=54594805&amp;newsitemid=20260825584354&amp;lan=en-US&amp;anchor=www.PapaJohns.com&amp;index=1&amp;md5=f83cdb84fad7b66ca82f0e903836d797" shape="rect">www.PapaJohns.com</a> or download the Papa Johns mobile app for iOS or Android.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260825584354r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260825584354/en/" rel="nofollow">https://www.businesswire.com/news/home/20260825584354/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
<span xmlns="http://www.w3.org/1999/xhtml" class="bwuline">Investors: 
</span><br xmlns="http://www.w3.org/1999/xhtml"></br>Papa Johns Investor Relations
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:investor_relations@papajohns.com" shape="rect">investor_relations@papajohns.com</a>

</p><p xmlns="http://www.w3.org/1999/xhtml">
<span xmlns="http://www.w3.org/1999/xhtml" class="bwuline">Media: 
</span><br xmlns="http://www.w3.org/1999/xhtml"></br>Harrison Sheffield
<br xmlns="http://www.w3.org/1999/xhtml"></br>Sr. Communications Manager
<br xmlns="http://www.w3.org/1999/xhtml"></br>Papa John’s International
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:Harrison_Sheffield@papajohns.com" shape="rect">Harrison_Sheffield@papajohns.com 
</a><br xmlns="http://www.w3.org/1999/xhtml"></br>470-751-4483

</p>

PZZA

Papa Johns Completes Strategic Refranchising of Orlando-area Restaurants with Franchisee Wade Oney

Papa John's refranchises 28 Orlando stores to Wade Oney-led group

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>Successful longtime franchisee partner has assumed ownership and operation of 28 restaurants formerly owned and operated by Papa Johns USA, Inc.


Papa John’s International, Inc. (NASDAQ:PZZA) (&amp;#34;Papa Johns®&amp;#34;)</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Papa John’s announced refranchising of 28 Orlando-area restaurants to Wade Oney’s PZZA Group, LLC and Magic City Pizzerias, LLC. The expansion elevates Oney’s footprint to over 120 stores and reinforces Papa John’s ongoing shift toward franchised operations, a move that could improve margins and reduce corporate overhead while signaling franchisee strength in Florida markets.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Papa John&#039;s refranchises 28 Orlando restaurants to Wade Oney-led groups.</li><li>Oney now leads private entities owning over 120 Papa Johns restaurants.</li><li>Oney previously served as Papa Johns COO and has 35 years in pizza.</li><li>The move underscores Papa Johns&#039; refranchising strategy with proven partners.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Papa John&#039;s International, Inc. (PZZA)</strong>: Refranchising 28 Orlando stores; potential impact on company-owned unit count and margins.</li><li><strong>Wade Oney</strong>: Private franchisee leader; expands ownership to &gt;120 stores; potential to accelerate regional growth.</li><li><strong>PZZA Group, LLC</strong>: Private entity acquiring 28 Orlando stores; part of refranchising strategy.</li><li><strong>Magic City Pizzerias, LLC</strong>: Private entity acquiring 28 Orlando stores; part of refranchising strategy.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category: Corporate Developments. The news reflects a strategic refranchising move, affecting ownership structure, cost base, and potential cash-flow dynamics, consistent with Papa John’s ongoing channel-portfolio optimization.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Refranchising could shift revenue mix toward royalties and rent, boosting margins.</li><li>No immediate guidance revision; stock reaction likely muted.</li><li>Strengthening franchisee ecosystem in Central Florida supports brand traction.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>28 Orlando-area restaurants refranchised to PZZA Group, LLC and Magic City Pizzerias, LLC.</li><li>Wade Oney leads the private entities; Oney group now owns &gt;120 Papa Johns restaurants.</li><li>Oney previously served as Papa Johns COO and has 35+ years in the pizza industry.</li><li>10 new Papa Johns restaurants opened in 2025 across Central and South Florida.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Near-term upside if investors view refranchising as margin-enhancing; monitor 3–6 months.</p>
  </section>
</section>


<p xmlns="http://www.w3.org/1999/xhtml" class="bwalignc">
<i xmlns="http://www.w3.org/1999/xhtml">Successful longtime franchisee partner has assumed ownership and operation of 28 restaurants formerly owned and operated by Papa Johns USA, Inc.</i>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Papa John’s International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/PZZA">PZZA</a>) ("Papa Johns<sup xmlns="http://www.w3.org/1999/xhtml">&#xAE;</sup>") (the "Company") today announced that it has refranchised 28 formerly corporate-owned restaurants in the Orlando area, which are now owned and operated by PZZA Group, LLC and Magic City Pizzerias, LLC, both led by Wade Oney, a leading franchisee operator. The restaurants were previously owned and operated by Papa Johns USA, Inc. The sale of these restaurants furthers Papa Johns initiative to strategically refranchise corporate-owned restaurants in partnership with proven franchise partners.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The strategic refranchising follows a period of growth for Oney and his franchise organizations, who now own more than 120 Papa Johns restaurants after opening 10 new restaurants in 2025 across Central and South Florida. Since starting work at a pizza restaurant in 1981, he has held leadership positions at some of the world’s largest pizza companies, including serving as Chief Operations Officer at Papa Johns for six years, helping to grow the Papa Johns system to over 2,000 restaurants.

</p><p xmlns="http://www.w3.org/1999/xhtml">
"Wade and his team have long stood as a leading example to other franchise partners of operational excellence, customer service, team culture and community support," said John Matter, Global Chief Development Officer &amp; Assistant Corporate Secretary at Papa Johns.

</p><p xmlns="http://www.w3.org/1999/xhtml">
"Over my 35 years as part of the Papa Johns family, I’ve learned how the brand offers a great place to work, equips franchisees to grow, and overall, presents a solid investment opportunity depending on economic times and how well you operate and take care of the customer," said Wade Oney, Operating owner of PZZA Group, LLC and Magic City Pizzerias, LLC, as well as Bam-Bam Pizza, Inc., Oney Bayside, LLC and Coastal City Pizza, LLC. "We’re excited to expand our portfolio of Papa Johns restaurants and look forward to serving even more customers in Central Florida."

</p><p xmlns="http://www.w3.org/1999/xhtml">
Since becoming a franchisee partner of Papa Johns, Oney and his team have been named Franchisee of the Year multiple times by Papa Johns, and Oney has been inducted into the Papa Johns Hall of Fame. Earlier this year, Oney was honored with the Spirit of Franchising MVP (Most Valuable Performer) Award by Multi-Unit Franchisee magazine.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Forward-Looking Statements</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Certain matters discussed in this press release which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Part I. Item 1A. - Risk Factors" of the Annual Report on Form 10-K for the fiscal year ended December 28, 2025. We undertake no obligation to update publicly any forward-looking statements, whether as a result of future events, new information or otherwise.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About Papa Johns</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Papa John’s International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/PZZA">PZZA</a>) opened its doors in 1984 with one goal in mind: BETTER INGREDIENTS. BETTER PIZZA.<sup xmlns="http://www.w3.org/1999/xhtml">&#xAE;</sup> Papa Johns believes that using high-quality ingredients leads to superior quality pizzas. Its original dough is made of only six ingredients and is fresh, never frozen. Papa Johns tops its pizzas with real cheese made from mozzarella, pizza sauce made with vine-ripened tomatoes that go from vine to can in the same day and meat free of fillers. It was the first national pizza delivery chain to announce the removal of artificial flavors and synthetic colors from its entire food menu. Papa Johns is co-headquartered in Atlanta, Ga. and Louisville, Ky. and is the world’s third-largest pizza delivery company with approximately 6,000 restaurants in approximately 50 countries and territories. For more information about the company or to order pizza online, visit <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.papajohns.com%2F&amp;esheet=54594805&amp;newsitemid=20260825584354&amp;lan=en-US&amp;anchor=www.PapaJohns.com&amp;index=1&amp;md5=f83cdb84fad7b66ca82f0e903836d797" shape="rect">www.PapaJohns.com</a> or download the Papa Johns mobile app for iOS or Android.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260825584354r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260825584354/en/" rel="nofollow">https://www.businesswire.com/news/home/20260825584354/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
<span xmlns="http://www.w3.org/1999/xhtml" class="bwuline">Investors: 
</span><br xmlns="http://www.w3.org/1999/xhtml"></br>Papa Johns Investor Relations
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:investor_relations@papajohns.com" shape="rect">investor_relations@papajohns.com</a>

</p><p xmlns="http://www.w3.org/1999/xhtml">
<span xmlns="http://www.w3.org/1999/xhtml" class="bwuline">Media: 
</span><br xmlns="http://www.w3.org/1999/xhtml"></br>Harrison Sheffield
<br xmlns="http://www.w3.org/1999/xhtml"></br>Sr. Communications Manager
<br xmlns="http://www.w3.org/1999/xhtml"></br>Papa John’s International
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:Harrison_Sheffield@papajohns.com" shape="rect">Harrison_Sheffield@papajohns.com 
</a><br xmlns="http://www.w3.org/1999/xhtml"></br>470-751-4483

</p>

Papa John’s announced refranchising of 28 Orlando-area restaurants to Wade Oney’s PZZA Group, LLC and Magic City Pizzerias, LLC. The expansion elevates Oney’s footprint to over 120 stores and reinforces Papa John’s ongoing shift toward franchised operations, a move that could improve margins and reduce corporate overhead while signaling franchisee strength in Florida markets.

News insight

Papa Johns Completes Strategic Refranchising of Orlando-area Restaurants with Franchisee Wade Oney

AI summary

Sentiment rationale

Key facts

Corporate Developments