U.S. pizza restaurant franchise company Papa John’s International Inc. plans to land $200 million in an investment round.
The investment will come from U.S.-based hedge fund company Starboard Value LP.
Papa John’s will use the net proceeds to repay debt and invest in its business.
Starboard said that it is making its infusion via the purchase of new convertible preferred stock, and the deal includes the option of an extra $50 million investment.