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Papa John's Signs Development Agreement to Open 100 Restaurants in Malaysia |
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Papa John's International, Inc. (Nasdaq: PZZA) today announced the signing of a development agreement with Berjaya Pizza Company Sdn Bhd, to open 100 Papa John's restaurants in Malaysia over the next 10 years, with the first slated to open later this year. |
According to Dato' Francis Lee, executive director of Berjaya, the company plans to focus its development initially in Kuala Lumpur before developing further within the Klang Valley region and other cities over the next decade.
'This agreement will further strengthen Papa John's brand position throughout Asia and will enable our 'Better Ingredients. Better Pizza' message to be spread throughout the region,' said David Flanery, Papa John's chief financial officer and president, International. 'One of the keys to the success of Papa John's in any country is working with top-quality franchisees and Berjaya is an experienced company dedicated to delivering on our brand promise.'
There currently are 171 Papa John's restaurants in Asia, including China and South Korea. There are more than 3,200 Papa John's restaurants open worldwide, including 495 international restaurants in 29 countries.
'We are delighted with the franchise partnership with Berjaya, a company well-known and respected throughout Asia and the world,' said Myles Felt, vice president of International for Papa John's. 'This agreement is part of Papa John's plan to focus on strategic development within key markets outside of America and this is a great opportunity for us to expand our Papa John's brand within the Southeast Asian region.'
Headquartered in Louisville, Kentucky, Papa John's is the world's third largest pizza company. For nine years running, consumers have rated Papa John's No. 1 in customer satisfaction among all national pizza chains in the highly regarded American Customer Satisfaction Index (ACSI). Papa John's also ranks first among pizza companies in the 2008 Brand Keys Customer Loyalty Engagement Index and was named 2007 Pizza Today Chain of the Year.
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