Papa John's Schnatter said to be investing in new concept

NAPLES, Fla. Papa John's International founder John Schnatter has reportedly invested in a Florida coffee-sandwich concept that plans to expand.

Schnatter recently bought a stake in the one-unit Calistoga Bakery Cafe, a gourmet sandwich-soup-coffee shop in Naples, Fla., according to the Louisville Courier-Journal. He said Calistoga plans to add three stores in Florida and one in Lexington, Ky., by the end of the year.

Schnatter, after whom Papa John's was named, stepped down as chief executive of the Louisville, Ky.-based pizzeria operator and franchisor two years ago, but remains chairman of the board. He owns about 28 percent of its stock. Nigel Travis succeeded him as CEO in April 2005.

Calistoga is owned by Mark Bates, a Florida real estate developer. Schnatter has a home in Naples, Fla., where Calistoga opened three years ago.

Schnatter told The Courier-Journal that he owns "a big chunk" of the start-up company but not a majority.

He told the newspaper that future Calistoga Bakery Cafe units would cover 4,500 to 6,000 square feet and require close to $1 million in start-up costs. They would focus on the breakfast and lunch dayparts, he said.

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