Shaq joins Papa John's board, investing in 9 restaurants

22.03.2019 / 20:43

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Papa John (PZZA) pizza chain rose today after basketball legend Shaquille O'Neal announced that he joined the brand. He will invest in 9 restaurants in the Atlanta area.

The former NBA star has also entered into a marketing agreement with the company and has agreed to submit the mark.

"We are thrilled to partner with Shaquille and welcome him to the Papa John’s Board,” said Jeff Smith, Chairman of the Papa John’s Board of Directors. “Shaquille has an excellent entrepreneurial background, including as a restaurant franchise owner, and is a natural creative marketer. Shaquille has demonstrated great success through understanding the customer value proposition with product and brand differentiation. The Board and I are excited to work with Shaquille and look forward to the terrific possibilities to strengthen our position together."

The company's shares formed a double bottom after a prolonged 2-year downtrend. The breakout and the activation of the formation with a gap after the news support a bullish scenario for PZZA.

Photo: Shaq Twitter

Trader Nikolay Georgiev

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Shaq joins Papa John's board, investing in 9 restaurants

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