By Charlie Pogacar
Chris Patel, a 31-year-old franchisee, told PMQ Pizza in August that he wanted to own 250 Papa Johns’ locations by 2030. In November, Papa Johns announced it is transferring—or “refranchising”—85 stores to Patel’s ownership group. With the acquisition, Patel’s group, Pie Investments, now operates more than 150 Papa Johns—solidifying itself as one of Papa Johns’ largest domestic franchise partners.
The 85 restaurants are s in the Washington D.C. and Baltimore markets. The refranchising deal, announced Monday, also includes plans to open 52 additional Papa Johns units by 2030 across Greater Philadelphia, D.C. and Baltimore—one of the brand’s most aggressive development commitments in recent years.
“Papa Johns leadership is empowering franchisees to drive success,” Patel said. “We’re looking forward to continued growth…and bringing the brand promise of ‘Better Ingredients. Better Pizza.’ to new groups of pizza lovers.”
Related: He’s 31 Years Old and He Owns 70+ Papa Johns Locations
The stores were previously operated by Colonel’s Limited, LLC, a joint venture between Papa Johns and Steeplechase Express, Inc., led by longtime franchisee William Freitas, who is retiring after a three-decade career with the brand. Freitas’ group opened its first Papa Johns in 1993 and helped usher the company into the digital era, becoming an early adopter of online ordering.
The deal marks another milestone in Patel’s extraordinary ascent within the Papa Johns system. When he signed his first four-store agreement in his mid-20s, Patel told PMQ Pizza, he was inspired by local multi-unit restaurant entrepreneurs who built empires “one acquisition at a time.” He grew quickly from there—surpassing 40 stores within two years and later expanding into Dunkin’, Baskin Robbins and Buffalo Wild Wings.
But his most aggressive growth has come at Papa Johns, a brand he has long described as a strong operational and financial fit. “The product is fresher, the food costs are stronger, and the upside potential is greater,” he told PMQ in August.
“Chris Patel’s growth mindset and entrepreneurial spirit are exactly the qualities Papa Johns is looking to emphasize among our franchisees,” said Ravi Thanawala, CFO and President of North America, in a press release announcement of the refranchising deal. “His impressive record in acquiring restaurants and improving their profitability is well known across the Papa Johns system.”
Patel is among a cohort of operators energized by recent changes under CEO Todd Penegor, whose arrival in 2024 ushered in new leadership in technology and marketing. Franchisees have pointed to upgraded digital systems, POS modernization and menu simplification as stabilizing forces after several years of choppy sales.
This refranchising move also underscores the system’s generational turnover: as Freitas exits after 30 years, operators like Patel are taking on increasingly large footprints and development responsibilities. Thanawala called Freitas a “pioneer” whose early digital innovation helped position Papa Johns as the first major pizza chain to offer online ordering.
As Patel told PMQ, “We’re seeing real transformation. The next generation of growth is just beginning.”
