TPG Growth Joins with Management to Acquire PJ United

  TPG Growth Joins with Management to Acquire PJ United

Business Wire

FORT WORTH, Texas & BIRMINGHAM, Ala. -- January 9, 2014

TPG Growth, the middle market buyout and growth equity investment platform of
TPG, and company management announced today they have acquired PJ United, the
largest franchisee of Papa John’s Pizza, from The Halifax Group. Terms of the
transaction were not disclosed.

Headquartered in Birmingham, AL, PJ United operates 155 stores across 10
states. Over its 22 year history, PJ United has grown into a leading
restaurant operator in the pizza category, with one of the most experienced
management teams in the industry.

“TPG Growth has a great track record of building businesses and there is no
better partner to support our next stage of growth,” said Doug Stephens, Chief
Executive Officer of PJ United. “TPG brings experience and resources that will
help us sustain our strong organic growth and further expand our footprint
through additional acquisitions, allowing us to serve more customers and
provide more opportunities for our 3,600 team members.”

“We are excited to partner with Doug Stephens and the entire PJ United team to
build on their already superior operational performance and impressive
growth,” said Sanjay Banker, Principal at TPG Growth. “With differentiated
quality, compelling marketing, and a superior customer experience, Papa John’s
has proven to be the most attractive national pizza brand and we look forward
to joining the Papa John’s franchisee community.”

About PJ United

Founded in 1991, PJ United is the country’s largest franchisee of Papa John’s
Pizza. Headquartered in Birmingham, Alabama, PJ United operates 155 stores in
Alabama, Illinois, Louisiana, Mississippi, Missouri, Tennessee, Texas, Ohio,
Utah, and Virginia. Papa John's is well-known for its emphasis on quality,
premium pizzas through the "Better Ingredients, Better Pizza" approach. For
twelve out of the last fourteen years, consumers have rated Papa John's No. 1
in customer satisfaction among all national pizza chains in the highly
regarded American Customer Satisfaction Index. For more information, visit
www.papajohns.com.

About TPG Growth

TPG Growth is the middle market and growth equity investment platform of TPG,
the global private investment firm. With $3.6 billion under management, TPG
Growth targets investments in a broad range of industries and geographies,
utilizing leveraged buyout, growth equity, and private investment in public
equity (PIPE) structures. The firm is backed by the resources of TPG, which
has $55.7 billion of assets under management. TPG Growth has offices in the
United States, China and India. For more information, visit www.tpggrowth.com.

Contact:

Owen Blicksilver Public Relations, Inc.
Owen Blicksilver
516-742-5950
owen@blicksilverpr.com
 
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