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<a href="https://1851franchise.com/papa-john-s-reports-loss-of-13-mill-ion-in-q3-2708380" target="_blank">Marred by uncertainty for the past several months</a>, <a href="https://www.papajohns.com/franchise/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=papa-johns-announces-200-million-deal-with-activist-hedge-fund-2709074" target="_blank" rel="nofollow" target="_blank">Papa John&rsquo;s</a> has struck a deal to kick off a brand turnaround. Activist hedge fund <a href="https://www.starboardvalue.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=papa-johns-announces-200-million-deal-with-activist-hedge-fund-2709074" target="_blank" rel="nofollow" target="_blank">Starboard Value LP</a> is making a $200 million strategic investment in the pizza chain with the option to add another $50 million through March 29, the brand announced Monday.

As part of the move, Starboard CEO Jeffrey Smith is set to take over as chairman of the Papa John&rsquo;s board. Further, Steve Ritchie will remain Papa John&rsquo;s CEO and will join the board.

<a href="https://www.forbes.com/sites/noahkirsch/2019/02/04/after-failing-to-secure-buyout-papa-johns-announces-200-million-investment-from-hedge-fund-starboard-value/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=papa-johns-announces-200-million-deal-with-activist-hedge-fund-2709074#50f1a2c529d4" target="_blank" rel="nofollow" target="_blank">According to an article in Forbes</a>, Starboard is set to receive a new type of convertible stock at a premium equivalent to between 11 percent and 15 percent of outstanding shares.

<a href="https://www.qsrmagazine.com/finance/papa-john-s-gets-new-chairman-200m-deal?utm_source=1851franchise.com&utm_medium=article&utm_campaign=papa-johns-announces-200-million-deal-with-activist-hedge-fund-2709074" target="_blank" rel="nofollow" target="_blank">An article in QSR Magazine noted</a> Starboard is no stranger to brand turnarounds. In 2014, the company took control of casual-dining company Darden&rsquo;s board to affect change in numerous operational capacities, most notably at Olive Garden. Within 18 months, the article noted, Darden&rsquo;s stock rose 47 percent. Smith served as chairman of Darden&rsquo;s board until April 2016.

Papa John's, Papa John's sale, pizza franchise, Starboard Value LP, Darden's

Papa John’s Announces $200 Million Deal With Activist Hedge Fund

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After months of turbulence that included the brand weighing a possible sale, Papa John’s has secured an investment from turnaround specialist Starboard Value LP.

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