1851 Franchise LogoFranchise

After a brief respite from the news cycle, Papa John’s founder John Schnatter is back. According to a report by CNBC, Schnatter is actively reaching out to private equity firms to orchestrate a buyout of Papa John’s. Schnatter’s representatives denied the report.

According to the report, several of the firms Schnatter has contacted have rejected his proposal, citing concerns over the reputation risk of partnering with him. Schnatter resigned as chairman earlier this year after it was learned he used a racial slur on a conference call, kicking off an increasingly contentious falling out over the last few months. Schnatter still remains Papa John’s largest shareholder with a roughly 30 percent ownership stake in the brand.

Sources did tell CNBC, however, that Papa John’s is actively talking with potential buyers, but cautioning that the process is still in the early stages and may not ultimately result in a sale.

Read the full CNBC report here.

Don’t Miss the Next Big Franchise Story

Sign up for the 1851 Franchise newsletter to get our biggest stories before everyone else

By signing up, you agree to our user agreement (including class action waiver and arbitration provisions), and acknowledge our privacy policy.

Madeline Lena

About the Author

Madeline Lena

Follow

Maddie 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.

More Articles Like This