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Papa John's rises on $200M investment : Private equity firm will step in amid decline

Feb 05, 2019 - USA Today
Board and Executive Moves

Papa John's International announced Monday that private equity firm Starboard Value LP has agreed to make a $200 million investment in the pizza chain and will place two of the fund's investors on its board - and one will become chairman.

Starboard also has the option to make an additional $50 million investment through March 29, 2019.

Jeffrey C. Smith, chief executive officer of Starboard, has been appointed chairman of the Papa John's board, while Anthony M. Sanfilippo, former chai...