According to three sources familiar with the matter, the largest franchisee of Papa John's in the United States has joined investment firm Irth to jointly promote a privatization acquisition of the pizza chain brand.

This move marks the emergence of a new key participant in Papa John's privatization process. The involvement of this franchisee is expected to provide important operational support and market confidence for Irth’s acquisition offer. Currently, negotiations are still ongoing, and specific transaction terms have yet to be finalized. The market is closely watching the potential impact of this deal on Papa John's future development strategy.