Papa John's International, Inc. (NASDAQ: PZZA) saw an increase in shares following a significant refranchising announcement. Pie Investments, a long-standing franchisee of the company, acquired 85 stores previously managed by Colonel's Limited, LLC, and has committed to opening 52 additional outlets by 2030. These new locations will cover markets in Washington, D.C. and Baltimore. Pie Investments now operates more than 150 Papa John's restaurants and has set a goal of reaching 250 stores by 2030. Colonel's Limited, LLC, which had been a Papa John's partner since 1993, had a strong reputation in the industry.