Papa John’s International announced a major refranchising deal that shifts control of 85 restaurants across the Washington, D.C. and Baltimore regions to Pie Investments, led by franchise operator Chris Patel. The move instantly positions Pie Investments as one of the largest Papa Johns franchise groups in the country, now operating more than 150 locations nationwide.
The restaurants were previously owned by Colonel’s Limited, LLC, a joint venture between Papa Johns and Steeplechase Express, Inc., operated by longtime franchisee William Freitas. Freitas, who opened his first Papa Johns in 1993 and helped guide the brand through decades of digital and operational transformation, is retiring.
The refranchising marks a significant expansion of Pie Investments’ footprint in the Mid-Atlantic, complementing its existing portfolio of locations throughout the Northeast. Papa Johns leadership described Patel as a strategic operator with a proven track record of acquiring and strengthening underperforming restaurants…