Papa John’s International Inc. said Monday that it bought 21 of its franchised restaurants in the Denver area and 29 in the Minneapolis area for $5.1 million.
The pizza chain also bought six restaurants in the Denver area that it immediately sold to a new franchisee. The company said it doesn’t expect the acquisitions to significantly affect its operating results for the year.
Papa John’s says about 75 percent of its 3,900 stores around the world are franchised, while it owns the other 25 percent. The company is based in Louisville, Ky.