One franchisee now runs 120+ Papa Johns (PZZA) stores
Rhea-AI Filing Summary
Papa John’s International, Inc. (PZZA) reported that it has completed a strategic refranchising of 28 formerly corporate-owned restaurants in the Orlando area. These locations, previously operated by Papa Johns USA, Inc., are now owned and operated by PZZA Group, LLC and Magic City Pizzerias, LLC, entities led by longtime franchisee Wade Oney.
The refranchising supports Papa Johns’ initiative to partner with proven operators. Oney’s organizations now own more than 120 Papa Johns restaurants after opening 10 new locations in 2025 across Central and South Florida. Papa Johns describes itself as the world’s third-largest pizza delivery company, with approximately 6,000 restaurants in about 50 countries and territories.
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8-K Event Classification
2 items: 7.01, 9.01
2 items
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Restaurants refranchised: 28 restaurants
Restaurants owned by Oney organizations: More than 120 restaurants
New restaurants opened in 2025: 10 restaurants
+2 more
5 metrics
Restaurants refranchised
28 restaurants
Formerly corporate-owned Papa Johns restaurants in the Orlando area
Restaurants owned by Oney organizations
More than 120 restaurants
Total Papa Johns restaurants owned after refranchising and 2025 openings
New restaurants opened in 2025
10 restaurants
Papa Johns restaurants opened by Oney’s organizations across Central and South Florida in 2025
Global restaurant count
Approximately 6,000 restaurants
Papa Johns system worldwide in approximately 50 countries and territories
System size milestone cited
Over 2,000 restaurants
Papa Johns system size reached during Oney’s tenure as Chief Operations Officer
Key Terms
refranchised, franchisee, forward-looking statements, Franchisee of the Year, +1 more
5 terms
refranchised financial
"announced that it has refranchised 28 formerly corporate-owned restaurants in the Orlando area"
franchisee financial
"a leading franchisee operator"
A franchisee is an independent business owner who buys the right to operate under a larger brand’s name, systems and products in exchange for fees and following the brand’s rules—think of renting a proven recipe and shop setup instead of building your own from scratch. Investors care because franchisees drive much of a brand’s local sales, growth and reputation: well-run franchisees provide steady revenue and expansion, while weak operators can reduce profits and hurt the brand.
forward-looking statements regulatory
"Certain matters discussed in this press release which are not historical facts are “forward-looking statements”"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Franchisee of the Year financial
"Oney and his team have been named Franchisee of the Year multiple times"
Spirit of Franchising MVP (Most Valuable Performer) Award financial
"Oney was honored with the Spirit of Franchising MVP (Most Valuable Performer) Award"
FAQ
What did PZZA announce regarding its Orlando-area restaurants?
Papa John’s International, Inc. completed the refranchising of 28 Orlando-area restaurants. These locations, previously owned and operated by Papa Johns USA, Inc., are now owned and operated by PZZA Group, LLC and Magic City Pizzerias, LLC, franchise organizations led by longtime franchisee Wade Oney.
Who is the new owner-operator of the refranchised Papa John’s (PZZA) Orlando restaurants?
The 28 refranchised Orlando-area restaurants are now owned and operated by PZZA Group, LLC and Magic City Pizzerias, LLC, both led by franchisee Wade Oney, who has decades of pizza industry experience and has held leadership roles at major pizza companies.
How many Papa John’s (PZZA) restaurants does Wade Oney’s group now own?
Following the refranchising, Wade Oney and his franchise organizations now own more than 120 Papa Johns restaurants. This total includes 10 new restaurants opened in 2025 across Central and South Florida, reflecting ongoing expansion of his franchise portfolio.
How large is Papa John’s (PZZA) global restaurant system?
Papa John’s states that it is the world’s third-largest pizza delivery company, with approximately 6,000 restaurants in approximately 50 countries and territories, highlighting the global scale of its franchised and company-operated locations.
What is the purpose of Papa John’s (PZZA) refranchising initiative?
Papa John’s explains that the sale of these 28 Orlando restaurants furthers its initiative to strategically refranchise corporate-owned restaurants in partnership with proven franchise partners, aligning operations with experienced operators such as Wade Oney’s organizations.
Does the refranchising disclosure in the PZZA 8-K include forward-looking statements?
Yes. The company notes that certain matters discussed are “forward-looking statements” involving risks and uncertainties and directs readers to the Risk Factors section of its Annual Report on Form 10-K for the fiscal year ended December 28, 2025, for related risk discussions.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
Commission File Number: 0-21660
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of (I.R.S. Employer Identification
incorporation or organization) Number)
(Address of principal executive offices)
(502 ) 261-7272
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company [ ]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class: | Trading Symbol | Name of each exchange on which registered: | ||||||||||||
Securities registered pursuant to Section 12(g) of the Act: None
Item 7.01. Regulation FD Disclosure.
The Company issued a press release on August 25, 2026, announcing it has refranchised the restaurants previously owned and operated by Papa John's USA, Inc. A copy of the press release is attached as Exhibit 99.1 hereto.
The information in the press release is being furnished, not filed, pursuant to Item 7.01 of Form 8-K. Accordingly, the information in Item 7.01 of this Current Report, including Exhibit 99.1, will not be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended, or into any filing of the Company under the Securities Exchange of 1934, as amended, unless specifically identified therein as being incorporated by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit Number | Description of Exhibit | |||||||
99.1 | Papa John’s International, Inc. press release dated August 25, 2026. | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| PAPA JOHN’S INTERNATIONAL, INC. | |||||
| (Registrant) | |||||
Date: August 25, 2026 | /s/ Caroline Miller Oyler | ||||
| Caroline Miller Oyler | |||||
| Chief Legal and Administrative Officer | |||||
Exhibit 99.1
Papa Johns Completes Strategic Refranchising of Orlando-area Restaurants with Franchisee Wade Oney
Successful longtime franchisee partner has assumed ownership and operation of 28 restaurants formerly owned and operated by Papa Johns USA, Inc.
ATLANTA – AUG. 25, 2026 – Papa John’s International, Inc. (Nasdaq: PZZA) (“Papa Johns®”) (the “Company”) today announced that it has refranchised 28 formerly corporate-owned restaurants in the Orlando area, which are now owned and operated by PZZA Group, LLC and Magic City Pizzerias, LLC, both led by Wade Oney, a leading franchisee operator. The restaurants were previously owned and operated by Papa Johns USA, Inc. The sale of these restaurants furthers Papa Johns initiative to strategically refranchise corporate-owned restaurants in partnership with proven franchise partners.
The strategic refranchising follows a period of growth for Oney and his franchise organizations, who now own more than 120 Papa Johns restaurants after opening 10 new restaurants in 2025 across Central and South Florida. Since starting work at a pizza restaurant in 1981, he has held leadership positions at some of the world’s largest pizza companies, including serving as Chief Operations Officer at Papa Johns for six years, helping to grow the Papa Johns system to over 2,000 restaurants.
“Wade and his team have long stood as a leading example to other franchise partners of operational excellence, customer service, team culture and community support,” said John Matter, Global Chief Development Officer & Assistant Corporate Secretary at Papa Johns.
Over my 35 years as part of the Papa Johns family, I’ve learned how the brand offers a great place to work, equips franchisees to grow, and overall, presents a solid investment opportunity depending on economic times and how well you operate and take care of the customer “ said Wade Oney, Operating owner of PZZA Group, LLC and Magic City Pizzerias, LLC, as well as Bam-Bam Pizza, Inc, Oney Bayside, LLC and Coastal City Pizza, LLC. “We’re excited to expand our portfolio of Papa Johns restaurants and look forward to serving even more customers in Central Florida.”
Since becoming a franchisee partner of Papa Johns, Oney and his team have been named Franchisee of the Year multiple times by Papa Johns, and Oney has been inducted into the Papa Johns Hall of Fame. Earlier this year, Oney was honored with the Spirit of Franchising MVP (Most Valuable Performer) Award by Multi-Unit Franchisee magazine.
Forward-Looking Statements
Certain matters discussed in this press release which are not historical facts are “forward-looking statements” that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Part I. Item 1A. - Risk Factors” of the Annual Report on Form 10-K for the fiscal year ended December 28, 2025.
We undertake no obligation to update publicly any forward-looking statements, whether as a result of future events, new information or otherwise.
About Papa Johns
Papa John’s International, Inc. (Nasdaq: PZZA) opened its doors in 1984 with one goal in mind: BETTER INGREDIENTS. BETTER PIZZA.® Papa Johns believes that using high-quality ingredients leads to superior quality pizzas. Its original dough is made of only six ingredients and is fresh, never frozen. Papa Johns tops its pizzas with real cheese made from mozzarella, pizza sauce made with vine-ripened tomatoes that go from vine to can in the same day and meat free of fillers. It was the first national pizza delivery chain to announce the removal of artificial flavors and synthetic colors from its entire food menu. Papa Johns is co-headquartered in Atlanta, Ga. and Louisville, Ky. and is the world’s third-largest pizza delivery company with approximately 6,000 restaurants in approximately 50 countries and territories. For more information about the company or to order pizza online, visit www.PapaJohns.com or download the Papa Johns mobile app for iOS or Android.
Contacts
Investors:
Papa Johns Investor Relations
investor_relations@papajohns.com
Media:
Harrison Sheffield
Sr. Communications Manager
Papa John’s International
Harrison_Sheffield@papajohns.com
470-751-4483