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Papa John's Evaluates $1.5B Bid Amid Share Surge

3/12/2026

Summary

Story summary

Papa John’s International is evaluating a $1.5 billion bid from Irth Capital Management, which proposes $47 per share, a 44% premium over the last closing price.
Following the announcement, Papa John’s shares increased by 15%.
Irth Capital Management, founded in 2024 and backed by Qatari investors, already owns a 10% stake in the company and is supported by Brookfield Asset Management.
This bid comes after Apollo Global's previous unsuccessful attempts to acquire the pizza chain.
Despite the interest, Papa John’s may not accept the offer, and other bidders could emerge as the company seeks to improve its performance amid weak demand.

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Story summary

Papa John’s International is evaluating a $1.5 billion bid from Irth Capital Management, which proposes $47 per share, a 44% premium over the last closing price.
Following the announcement, Papa John’s shares increased by 15%.
Irth Capital Management, founded in 2024 and backed by Qatari investors, already owns a 10% stake in the company and is supported by Brookfield Asset Management.
This bid comes after Apollo Global's previous unsuccessful attempts to acquire the pizza chain.
Despite the interest, Papa John’s may not accept the offer, and other bidders could emerge as the company seeks to improve its performance amid weak demand.