WASHINGTON (dpa-AFX) - Apollo Global Management (APO) has reportedly made a renewed offer to acquire Papa John's International for $64 per share, according to Reuters.
The move follows a joint bid with Irth Capital earlier this year, which valued the pizza chain at just over $60 per share.
The report noted that the situation remains fluid, and no deal is certain. The report comes amid a wave of private equity interest in restaurant brands, following deals involving Subway, Dave's Hot Chicken, and Jersey Mike's.
Papa John's, valued at about $1.6 billion, has seen its stock rise 18% in 2025. Despite a 4% increase in quarterly sales to $529.2 million, profits fell nearly 23% to $9.7 million. The company, founded in 1984, operates nearly 6,000 restaurants across about 50 countries.
Tuesday APO closed at $127.64, up 4.25%, and is currently trading after hours at $125.50, down 1.68% on the NYSE.
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