Papa Johns has transferred ownership of 28 corporate-owned restaurants in the Orlando area to Wade Oney, a longtime pizza industry operator with deep roots in the brand. Oney holds the deals through two entities, PZZA Group and Magic City Pizzerias, bringing his total Papa Johns portfolio to 120 locations — including 10 units he opened in Central and South Florida just last year.
Oney is no stranger to the brand's inner workings. He served as Papa Johns' chief operations officer from 1995 to 2000, a period during which the chain grew past 2,000 restaurants. He has been named Papa Johns Franchisee of the Year multiple times and is a member of the brand's Hall of Fame. In a statement, Oney said he looks forward to serving more customers in Central Florida as his portfolio grows.
The Orlando sale is part of a broader refranchising strategy Papa Johns is using to shrink its corporate footprint. The company has set a target of bringing corporate ownership down to a mid-single-digit percentage of its North American locations. Last December it sold 85 units in the Washington, D.C., and Baltimore markets to a group called Pie Investments, which also agreed to open 52 additional locations in those markets and Philadelphia by 2030. Papa Johns' interim CFO noted the Orlando transaction will reduce the company's consolidated revenue by about $4 million.
The moves come as Papa Johns weathers a difficult stretch — the brand has posted comparable sales declines in eight of the past nine quarters, with an 8.3% drop in the most recent quarter. The broader pizza industry is feeling similar pressure, with inflation and tariffs dampening consumer traffic across many chains. CEO Todd Penegor has said that placing more units in the hands of experienced, well-capitalized franchisees is central to the company's long-term health.
Papa Johns operates roughly 6,000 restaurants across approximately 50 countries and territories, with more than 3,000 locations in the United States. This story was first reported by FranchiseWire.
