Bain Capital Partners with Restaurant Executive Steve Ritchie to Launch Prosper Growth Partners, New Franchise Platform

BOSTON--(BUSINESS WIRE)--Bain Capital today announced the formation of Prosper Growth Partners (“PGP”), a new franchise platform led by Steve Ritchie, former Chief Executive Officer of Papa John’s. The platform will focus on acquiring franchisee businesses and scaling leading consumer brands through a partnership model focused on excellent operational execution to deliver best-in-class guest experiences.

As Chief Executive Officer, Mr. Ritchie brings more than 30 years of experience founding and leading multi-concept franchise organizations. Together with Bain Capital’s deep operational capabilities and long-term flexible capital, the partnership combines proven leadership with a track record of investing in the consumer and retail sector. The partnership was formed through equity commitments from Bain Capital Special Situations.

Mr. Ritchie began his career in the restaurant industry at a young age, owning and operating a local pizzeria in high school. Over the next 23 years, he held a series of leadership roles at Papa John’s, ultimately serving as President & Chief Executive Officer, overseeing operations for more than 5,000 restaurants across 50 countries. During his tenure, he also operated as a franchisee, owning and operating restaurants across the Midwest region, giving him a deep understanding of both corporate and franchise operations. Following his successful tenure at Papa John’s, Mr. Ritchie and his wife founded Endeavor Restaurant Group, a multi-concept restaurant platform with operations spanning diverse industry segments. He most recently served as Chief Executive Officer of Bluegrass Restaurant Holdings, a multi-brand franchise platform operating more than 200 restaurant and fitness locations across six brands, including Panera, Pizza Hut, and Orangetheory Fitness.

“The current market represents a compelling opportunity to build a franchisee platform anchored by trusted, distinctive brands that consistently attract loyal consumers and emergent concepts positioned for sustainable, scalable growth. With proven multi-brand capabilities and a model that prioritizes long-term partnership and transparency, PGP is uniquely positioned to serve as the strategic partner of choice for tenured and fast-growing franchisors and franchisees seeking to adapt to changing consumer preferences,” said Mr. Ritchie. “Bain Capital’s deep experience growing restaurant and retail businesses, combined with its significant operating capabilities and network of trusted industry and franchisee relationships will enable the platform to bring a hands-on, differentiated approach to value creation. I am excited to collaborate with the Bain Capital team to execute our shared vision to build an exceptional and differentiated portfolio of category defining brands at scale.”

“We are fortunate to partner with a proven operator and executive of Steve’s caliber who can complement our institutional capabilities and approach to brand stewardship,” said Cristian Jitianu, a Partner at Bain Capital. “Throughout Bain Capital’s more than 40 years of investing in restaurants and retail, we’ve gained valuable consumer and commercial insights, and with Steve’s decades of franchisee leadership and first-hand operating experience, we are well-positioned to acquire franchisee businesses and partner with leading brands to develop new locations and fuel their growth.”

Bain Capital has a long history of partnering with companies to accelerate growth, with strong experience in the consumer, retail, and restaurant industries. The firm has successfully partnered with such leading brands as Bloomin’ Brands, Bob’s Discount Furniture, Burlington, Burger King, Canada Goose, Cuisine Solutions, Domino’s Pizza, Dunkin’ Brands Group, Fogo de Chão, GAIL’s Bakery, Pizza Express, Retail Zoo, Sizzling Platter, Skylark Restaurants, and Valeo Foods.

About Bain Capital

Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management. To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).