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Home >Companies >Avan Projects buys majority stake in Papa John’s India franchisee

Avan Projects has acquired a majority interest in Papa John’s India franchisee, Om Pizza and Eats India Pvt. Ltd.

Avan will take over management of the 20 restaurants of Papa John’s in India and has development rights for some regions. It will hold an over 80 % stake. Financial details of the transaction were not disclosed.

The current owners of Om Pizza, TVS Capital and the Jawad Group of Bahrain, will continue to hold a minority stake, said a media statement. The investment in Om Pizza was led by Atulya Mittal, a director of Avan projects. The Mittal family has business investments primarily in metals and mining.

Mittal is a graduate in finance from the Wharton School and holds an MBA from Harvard Business School. Prior to founding Avan, he worked at Citigroup Inc. and Ispat Industries Ltd, which merged with JSW Steel Ltd.

Papa John’s is the world’s third largest pizza delivery company. At the end of the third quarter it had 4,296 restaurants open in 35 countries and territories.

The investment in Papa John’s represents a new vertical for Avan Projects, which will focus on growing the chain to a large national footprint in the 2,300 crore pizza market. Avan will also look for other opportunities in the consumer space

“We look forward to increasing our penetration so that more customers can experience the Papa John’s customer promise of “Better Ingredients, Better Pizza," said Mittal.

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