Latest news with #IrthCapitalManagement
Reuters
2 days ago
- Business
- Reuters
Apollo and Irth Capital made an offer to buy Papa John's, sources say
NEW YORK, June 11 (Reuters) - Apollo Global Management (APO.N), opens new tab and Irth Capital Management have approached Papa John's International (PZZA.O), opens new tab for a deal that would take the U.S. pizza chain private, two people familiar with the matter said on Wednesday. The investment firms' joint bid would value Papa John's, the world's third-largest pizza delivery company, just above $60 per share, said the people, who asked not to be identified because the deal is private. Semafor reported Apollo and Irth's bid for the company earlier on Wednesday. Papa John's declined to comment. Apollo and Irth did not immediately respond to requests for comment.
Yahoo
17-02-2025
- Business
- Yahoo
Irth Capital Management considers takeover of Papa Johns
Qatari-backed investment fund Irth Capital Management is considering a takeover bid for US-based pizza chain Papa Johns, as reported by Semafor. The investment fund, which is supported by a member of Qatar's royal family, has consulted with advisers about making a private bid for Papa Johns, which has a market capitalisation of $1.6bn. Irth Capital Management, co-founded by Matthew Bradshaw and Sheikh Mohamed 'Moe' al Thani, disclosed a 4.99% stake in Papa Johns in 2024. This equates to 1.6 million shares valued at $70m - just below the threshold that would require it to disclose any plans. Irth's approach is to reportedly acquire small stakes in public companies, in order to eventually acquire them completely. In an investor brochure, the company stated that it 'creates many of its own opportunities'. Bradshaw has significant experience, having previously co-founded Durational Capital. Durational is known for taking Bojangles private in partnership with The Jordan Company for $593.7m. That deal, first announced in 2018, was finalised on 28 January 2019 after gaining shareholder approval. Durational also acquired mattress company Casper in 2021 and made it private. Regulatory filings indicate that Irth manages assets valued at $200m. In 2018, Papa Johns was believed to be a takeover target of Trian Partners. In 2019, activist firm Starboard Value invested $200m in the pizza chain. Papa Johns then agreed to repurchase shares from Starboard Value in March 2023. In January 2025, the chain unveiled its strategy to re-enter the Indian foodservice market, targeting a 2025 launch. It had exited India in 2017 due to operational and branding challenges. "Irth Capital Management considers takeover of Papa Johns" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
