Major Papa Johns Franchisee Stake Purchased by Popular Las Vegas Raiders Star
Papa Johns has a new major investor in Las Vegas Raiders star Maxx Crosby.
According to NBC3 in Las Vegas, the defensive end is now an equity owner and marketing partner of BLD Ventures' Papa Johns Las Vegas, which is one of the pizza chain's largest franchisees.
"Vegas has supported me since I got here," Crosby said in a statement. "I love Papa Johns and teaming up with them is my way of showing love back to the city that’s embraced me as one of its own."
"Maxx embodies the values we stand for, and together, we're ready to grow our presence in Las Vegas," Doug Pak, BLD Ventures CEO and Las Vegas Papa Johns franchise owner, said in a statement.
Crosby will attend the opening ceremonies for each of the 10 new locations the pizza giant expects to open in the Southern Nevada area over the following three years as part of the agreement.
Additionally, the chain has started a new promotion dubbed "Maxximize Your Pizza," which offers two or more extra-large pizzas with two toppings for $14.98. A portion of each special's earnings will go to the Maxx Crosby Foundation, a nonprofit organization that promotes community development, wellness, and youth health in Las Vegas.
Papa Johns Installed Former Wendy's CEO
Over the summer, Todd Penegor was appointed as Papa Johns' new president and CEO. Penegor has almost 20 years of expertise in the restaurant and consumer goods businesses, most notably as the former CEO of Wendy's.
“Todd has an outstanding record of leading winning teams and scaling franchised operations globally through trusted partnerships, product innovation and digital transformation," said Christopher Coleman, Chair of the Board of Directors. "He has also demonstrated his ability to effectively allocate capital, drive value and enhance profitability. We are excited to welcome Todd to Papa Johns and look forward to his contributions as we work to create significant, sustainable value for our shareholders and franchisees.”
He oversaw Wendy's international expansion, which resulted in notable increases in sales and profits. Prior to joining Wendy's, Penegor held key roles at Ford Motor Company and Kellogg Company.
Penegor is replacing Interim CEO Ravi Thanawala, who will continue to serve as CFO, and he will also be joining the pizza chain's Board of Directors.