Bain Capital and CVC Capital Partners are among the private equity firms competing to acquire Papa John’s International, the world’s third-largest pizza delivery company, people familiar with the matter said on Tuesday.

The buyout interest in Papa John’s comes amid a battle for control with its founder John Schnatter, who owns about 30 percent of the company. He resigned as chairman in July following reports that he had used a racial slur on a media training conference call.

Since then, Schnatter has been seeking ways to regain influence, and asked Papa John’s in a letter earlier this month to amend a poison pill provision it has adopted so that he can engage with bidders that had expressed interest in speaking to him.

[Read More]


Please enter your comment!
Please enter your name here