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Investing.com -- Shares of Papa John’s (NASDAQ:PZZA) surged 18% following reports from Semfor that an investment fund backed by a member of Qatar’s royal family is considering a takeover bid. The fund, Irth Capital Management, has been in discussions with advisors about a possible take-private offer for the pizza chain, which currently has a market capitalization of approximately $1.6 billion.
Irth Capital, co-founded by Matthew Bradshaw and Sheikh Mohamed “Moe” al Thani, a member of the Qatari royal family, previously disclosed a 4.99% stake in Papa Johns. This stake is just under the threshold that would require the fund to reveal its intentions for the company. The news of the potential acquisition has sparked significant investor interest, given Irth’s history of successful private takeovers, including the privatization of Bojangles in 2018 and Casper in 2021.
The interest from Irth Capital comes as Papa Johns has been experiencing a period of growth, with the company’s market value reflecting investor confidence in its performance and future prospects. The pizza chain’s shares have reacted positively to the news, with the potential for a takeover bid suggesting a new chapter for the company.
While there is no official offer on the table, and discussions are still at a preliminary stage, the market’s response indicates a strong interest in the potential deal. Investors seem to be optimistic about the possible acquisition by a fund with a track record of successful investments in consumer brands.
The move by Irth Capital to potentially take Papa Johns private marks another instance of private equity interest in well-known consumer brands. It reflects a broader trend of investment funds seeking opportunities to leverage their expertise and capital in companies with strong brand recognition and growth potential.
As the situation develops, market watchers and Papa Johns shareholders will be closely monitoring any further announcements or movements related to this potential takeover bid.
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