According to a news report from blog.washingtonpost.com, “The Halifax Group of Washington led a management buyout of P.J. United, the largest franchisee of Papa John’s pizza chain, the private equity firm announced Tuesday. Terms of the deal were not disclosed. Halifax’s deals are usually around $100 million.”
“Halifax, P.J. United founder Douglas S. Stephens and his top managers bought out shareholders in the company, which operates 116 Papa John’s pizza stores in six states, including Virginia, Ohio, Utah, Texas, Alabama and Louisiana, according to the company. The current management team at P.J. United will stay on,” said the story. “We saw this as a great opportunity to partner with a strong, deep and proven managment team with what we consider the leading brand in the pizza sector,” said Halifax managing director Ken Doyle.”
