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Profile: Papa John's International Inc (PZZA.OQ)

PZZA.OQ on NASDAQ Stock Exchange Global Select Market

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22 May 2017
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Papa John's International, Inc. (Papa John's), incorporated on July 25, 1991, operates and franchises pizza delivery and carryout restaurants and, in certain international markets, dine-in and delivery restaurants under the trademark Papa John's. The Company operates through five segments: domestic Company-owned restaurants, North America commissaries, North America franchising, international operations and all other business units. North America is defined as the United States and Canada. Domestic is defined as the contiguous United States. International franchisees are defined as all franchise operations outside of the United States and Canada.

As of December 25, 2016, there were 5,097 Papa John's restaurants in operation, consisting of 744 Company-owned and 4,353 franchised restaurants operating domestically in all 50 states and in 45 countries and territories. As of December 25, 2016, the Company-owned restaurants included 222 restaurants operated under five joint venture arrangements, and 42 units in Beijing and North China. The Company offers pizza along with side items, including breadsticks, cheesesticks, chicken poppers and wings, dessert items and canned or bottled beverages. Papa John's traditional crust pizza is prepared using dough (never frozen). Papa John's pizzas are made from a blend of wheat flour, cheese made from mozzarella, pizza sauce made from vine-ripened tomatoes (not from concentrate) and a mix of savory spices, and a choice of meat and vegetable toppings. Its traditional crust pizza is delivered with a container of its special garlic sauce and a pepperoncini pepper.

The domestic Company-owned restaurant segment consists of the operations of all domestic Company-owned restaurants, and includes retail sales of pizza and side items. The North America commissary segment consists of the operations of its regional dough production and product distribution centers, and includes sale and distribution of food and paper products to domestic Company-owned and franchised restaurants in the United States and Canada. The North America franchising segment consists of its franchise sales and support activities, and is engaged in sales of franchise and development rights, and collection of royalties from its franchisees located in the United States and Canada. The international operations segment principally consists of its Company-owned restaurants in China and distribution sales to franchised Papa John's restaurants located in the United Kingdom, Mexico and China, and its franchise sales and support activities, including sales of franchise and development rights and the collection of royalties from its international franchisees.

As of December 25, 2016, the Company's North American QC Center system comprised 10 full-service regional production and distribution centers in the United States, which supply pizza sauce and dough, food products, paper products, smallwares and cleaning supplies twice weekly to each traditional restaurant it serves. It has a QC Center in Canada, which produces and distributes dough. It owns international QC Centers in Milton Keynes, the United Kingdom, Mexico City, Mexico, and Beijing, China. Its other international QC Centers are licensed to franchisees or non-franchisee third parties and are generally located in the markets where the Company's franchisees have restaurants.

Within its North American QC Center system, products are primarily distributed to restaurants by leased refrigerated trucks operated by the Company. The Company's local restaurant-level marketing programs target consumers within the delivery area of each restaurant. The Company provides both Company-owned and franchised restaurants with pre-approved marketing materials and catalogs for the purchase of promotional items. It also provides direct marketing services to Company-owned and franchised restaurants using customer information gathered by its point-of-sale technology. In addition, the Company provides database tools, templates and training for operators to facilitate local e-mail marketing and text messaging through its approved tools. The Company's digital ordering platform allows customers to order online. The Company's domestic restaurants offer customers the opportunity to purchase a reloadable gift card, sold as either a plastic gift card purchased in its restaurants, or an online digital card. It sells Papa Cards to consumers on its Website and through third-party retailers. The Company also sells cards in bulk to business entities and organizations.

Company Address

Papa John's International Inc

2002 Papa Johns Blvd
LOUISVILLE   KY   40299-3393
P: +1502.2617272
F: +1502.2662925

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