CapMan invests in Papa John’s restaurant chain in Russia
CapMan Russia Fund has acquired a 49% stake in the master franchise of the Papa John’s pizza chain in Russia. Papa John’s is an American chain and it currently has nine restaurants in Moscow. The aim of the investment is to expand the chain’s operations in Moscow and other large Russian cities over the next few years.
Entrepreneur John Schnatter founded the Papa John’s 25 years ago and the chain currently operates over 3,000 restaurants worldwide. The first Papa John’s restaurant in Russia was opened in Moscow in 2003. Russia’s fast-food market has grown strongly in recent years and this growth is expected to continue, particularly outside city-centre locations.
“We see good opportunities for Papa John’s to succeed in Russia, thanks to its excellent brand and skilled management. The chain already has a strong position in Moscow, and our plan is to work with management to expand its operations by opening new restaurants in both Moscow and elsewhere in Russia over the next few years,” says CapMan’s Senior Partner and Head of CapMan Russia Petri Saavalainen.
“We are very pleased to receive the support of such an experienced investor such as CapMan for our growth. With CapMan as a partner, we will be able to further develop our business and continue to focus on providing quality restaurant services for our customers,” says Christopher Wynne, CEO of Papa John’s Russia. Wynne will continue as a major company shareholder following the CapMan acquisition.