Papa John’s has signed a store development agreement to expand in the Philadelphia area, according to a press release. Under the agreement, HB Restaurant Group will open 49 new stores in Philadelphia and southern New Jersey between 2021 and 2028.
The Group currently owns 43 restaurants in the Mid-Atlantic area and has been a Papa John’s franchisee since April 2019.
“Papa John’s has long offered franchise investors one of the fastest paybacks in our industry. Recent record sales have driven further gains in store profitability. Combined with our resilient e-commerce and delivery model, a transforming brand and significant whitespace, Papa John’s today offers franchise investors a truly compelling opportunity,” said Papa John’s Chief Development Officer Amanda Clark.
“We’re excited to grow our partnership with HB Restaurant Group, already an important member of the Papa John’s family, as we accelerate our development activities at this unique moment for the brand,” she added.
Stuart Hunt, President, HB Restaurant Group, added, “We joined the Papa John’s system a year ago after seeing a tremendous opportunity to invest in and grow with a great brand. We are very excited to extend our growth strategy by developing new stores in a great market like Philadelphia and southern New Jersey. Papa John’s is built on supporting our neighbors where we are located, and we embrace these values. We look forward to becoming an integral part of our communities as we grow.”