Papa John’s ugly year of turmoil may finally bring shareholders some welcome news: Trian Fund Management, a hedge fund led by activist investor Nelson Peltz, is evaluating a takeover of the pizza chain, the Wall Street Journal reports. The news caused Papa John’s stock to surge 12% late Monday.
Other parties, including companies and private-equity funds, have also expressed interest in buying Papa John’s, the Journal said. Trian is a notable suitor because of its experience investing in the food industry and because it’s known for working with the management of struggling companies.. . . more