Om Pizza Eats Pvt Ltd, the Indian franchisee of Papa Johns International, has merged with Fred Mouawads pizza business of Global Franchise Architects operating under the Pizza Corner brand. Om Pizza Eats Pvt Ltd is owned by Avan Projects Pvt Ltd, promoted by Atulya Mittal. TVS Capital and the Jawad group of Bahrain hold a minority stake in Om Pizza.
Papa Johns today announced that they have entered into an agreement for the merger of Pizza Corner stores in South India. Papa Johns will convert the existing Pizza Corner stores to Papa Johns branded restaurants through Q1 2015. This expansion and consolidation journey has the right synergies to speed up Om Pizza Eat’s and Avan’s growth in the organized QSR Indian market. The announcement reinforces Papa Johns commitment to expand its presence in India, specifically in Bangalore, Chennai and Hyderabad.
Last year GFA announced an aggressive expansion drive under which it planned to open a total of 40 stores across all its brands. Having crossed the 100 store number in India this year, GFA share holders decided to pump in fresh investment to support its expansion initiatives last year.
By virtue of the acquisition, Pizza Corner operations shall be merged with Om Pizza Eats. Pizza Corner has a strong foothold in the southern region operating around 70 outlets. The combination of the two brands will reposition Papa Johns as a leader with a great portfolio. The strength of Pizza Corner in South India will allow Papa Johns to capture opportunities in this attractive market. Pizza Corner, part of the GFA brands, is the third largest pizza chain in southern India. Papa Johns currently has fifteen operating restaurants across India.
The merger of Pizza Corner business further strengthens Om Pizza Eats focus on growing the chain to a large national footprint.
We are energised about this accelerated International expansion for Papa Johns in Southern India, said John Schnatter, Founder and CEO of Papa Johns. The merger provides us the opportunity to penetrate the market at a much more rapid pace, and increase our scale in a shorter period.