Franchise News
Papa John's and Wendy's Discussed a Merger and Stocks are Climbing
Founder John Schnatter was reportedly at the forefront of discussions before his departure
Papa John's and Wendy's stocks are on the rise after The Wall Street Journal reported the two franchise giants had entered into preliminary discussions about a merger before the pizza chain's founder, John Schnatter, stepped down last week. Sources said Schnatter initiated talks, which cooled after he resigned as chairman due to his use of a racial slur on a conference call.
It is unclear whether talks will resume as Papa John's continues to distance itself from Schnatter, who currently remains a board member with a 29 percent ownership stake in the company. Both sides declined to comment to CNBC.
Read the full article here.
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About the Author
Madeline Lena
FollowMaddie has spent her career in the media industry, serving in various editorial roles before migrating into a hybrid content strategy and PR role with No Limit Agency. Her passion for storytelling and love of writing help her create meaningful content on behalf of her clients and fulfill No Limit Agency’s mission to tell people-driven stories.
Maddie is a graduate of Saint Louis University, where she studied Communications with a focus in journalism and media studies as well as Sports Business. In her spare time, Maddie can be found exploring Chicago’s food scene, watching an NBA game or lamenting over her middling fantasy baseball team.
