Owner of DQ, Papa John’s China Operations Is Said to Weigh Sale

FountainVest Partners is considering selling the franchise operator of Papa John’s and Dairy Queen in China, people familiar with the matter said.

The private equity firm is in discussions with financial advisers about the potential disposal of CFB Group, which also owns Chinese restaurant brands Brut Eatery and Jin Ya Ju. A transaction may value CFB at about $500 million, the people said, asking to not be identified because the deliberations are private.

Considerations are preliminary and a formal process might not kick off until later in the year, the people said. FountainVest could also decide against selling for ...