Papa Johns has appointed Mexico-based investment and advisory firm KM Capital as its new franchise partner in Mexico, in a move that puts 44 existing franchised restaurants under KM Capital’s leadership and signals a renewed push to strengthen operations and expand the pizza brand’s footprint in one of its priority international markets.
Under the new partnership, KM Capital will focus on commercial growth, operational excellence, innovation and strengthening the customer experience across the existing estate, while also supporting future restaurant development in Mexico. Papa Johns said the partnership will involve continued investment in restaurant operations, brand development and future growth, positioning Mexico as an important component of its long-term international expansion strategy.
“Mexico is an important market for Papa Johns, and KM Capital brings the local expertise, commercial discipline and strategic growth mindset needed to support the brand’s next phase,” said John Matter, Global Chief Development Officer at Papa Johns. “Together, we are focused on enhancing the customer experience, growing our presence in the market and building a stronger Papa Johns brand for consumers across Mexico.”
KM Capital’s executive leadership team has already met with Papa Johns executives to align on growth plans, market priorities and longer-term development opportunities in the country. Enrique Ruiz Mandujano, Founding Partner and CEO of KM Capital, said the company sees room to build on the brand’s existing platform and reach more consumers.
“We are proud to join the Papa Johns system and excited by the opportunity to build on the brand’s strong foundation in Mexico,” Ruiz Mandujano said. “Mexicans have a strong passion for pizza, and we see an opportunity to grow the Papa Johns brand by delivering great pizzas and expanding our reach to serve more communities across the country.”
The transition comes as Papa Johns identifies Mexico as a priority growth market. The company describes Mexico as the world’s third-largest pizza market and one of Latin America’s largest consumer markets, making the country strategically significant as Papa Johns seeks to grow its international business.
The timing also fits into a broader period of emphasis on Papa Johns’ international business. In its second-quarter 2026 results, released August 6, the company reported that international comparable sales increased 1.5%, marking the seventh consecutive quarter of positive comparable-sales growth for the international segment. International system-wide restaurant sales rose 5.1% in the quarter, while the company opened 41 restaurants in international markets.
As of June 28, 2026, Papa Johns had 5,978 restaurants across 51 countries and territories, including 2,539 international restaurants. The company’s updated 2026 outlook calls for 180 to 220 international gross openings and international comparable-sales growth of 1% to 3%.
The Mexico agreement therefore adds a significant franchise-market development to Papa Johns’ international strategy at a time when the company is concentrating on markets capable of supporting sustainable restaurant growth and stronger franchisee economics. Papa Johns President and CEO Todd Penegor has said the company’s international business continues to provide evidence that its transformation strategy can improve performance, with international comparable sales posting positive growth for seven consecutive quarters.
For Papa Johns, the move is less about simply changing operators and more about resetting the growth platform in Mexico. With an established 44-restaurant base, a large national consumer market and a broader international division that has continued to deliver positive comparable sales, the partnership gives the brand a new local investment partner with an explicit mandate around operational improvement and expansion.
Globally, Papa Johns International, Inc. is headquartered in Atlanta and Louisville and trades on Nasdaq under PZZA. Founded in 1984, the company says it has approximately 6,000 restaurants in roughly 50 countries and territories. Its stated brand proposition remains “Better Ingredients. Better Pizza.”
