Qatari-backed fund plans $1.4B bid for Papa John's

Irth Capital Management, an investment fund backed by a member of Qatar's royal family, is reportedly considering a bid to take Papa John's private for approximately $1.4 billion. This interest has led to a significant boost in Papa John's stock, which rose nearly 20% following the news. Irth, co-founded by Matthew Bradshaw and Sheikh Mohamed 'Moe' al Thani, has previously executed similar take-private strategies for other companies, such as Bojangles and Casper. The firm currently holds a 4.99% stake in Papa John's, indicating a strategic approach to the potential acquisition. Despite challenges in demand and competition within the pizza industry, the involvement of Irth Capital suggests a possible revitalization for the brand. Financial details regarding the bid remain unclear, but al Thani's background with the Qatari sovereign wealth fund may provide necessary funding support.