Papa John’s set to expand presence in Chile

SANTIAGO – The world’s third largest pizza delivery company, Papa John’s International, Inc. (PZZA – Free Report) is geared to expand further in Chile.

In this regard, the company has recently signed two expansion agreements with Drake QSR AG (Drake).

Drake currently operates 55 restaurants in Chile through PJ Chile SpA and the recently signed agreement will allow the franchisee to add 45 units, bringing the tally to a total of 100 restaurants. Notably, Papa John’s has been experiencing rapid growth in Chile and thus plans to continue grow its presence there.

Interestingly, Drake has been one of the fastest-growing, most successful franchise business partners for Papa John’s.

Currently, the American fast food chain has more than 1650 international restaurants in 45 countries, including over 400 restaurants in 16 Latin American countries. It is also looking to expand in Brazil, Honduras, and the Bahamas.