Jubilant Foodworks To Buy Stake In Master Franchisee Of Domino’s Pizza In Four Countries
The operator of Domino’s Pizza chain in India has agreed to acquire stake in the franchisee holder for its restaurants in Turkey, Russia, Azerbaijan and Georgia.
Jubilant Foodworks Ltd. will buy 32.81% stake in DP Eurasia N.V. through its subsidiary, Jubilant Foodworks Netherlands B.V., according to its exchange filing.
The deal is structured as follows:
- Jubilant Foodworks Netherlands B.V. will acquire Fides Food Systems Coöperatief U.A., Netherlands—the beneficial owner of 32.81% of equity shares in DP Eurasia—in an all-cash deal amounting to nearly 24.8 million pounds.
- Jubilant Foodworks Netherlands B.V. and Jubilant Foodworks have entered into a purchase agreement with Turkish private equity fund II L.P.—which owns Fides Food Systems.
DP Eurasia together with its subsidiaries offers pizza delivery, takeaway and eat-in facilities at 771 stores in:
- Turkey - 568 stores.
- Russia- 190 stores.
- Azerbaijan-9 stores.
- Georgia- 4 stores.
“We’re happy to announce our acquisition of Fides for 32.81% equity stake in DP Eurasia, one of the large master franchisee of the Domino’s Pizza brand,” Shyam S Bhartia and Hari S Bhartia, chairman and co-chairman of Jubilant Foodworks, were quoted as saying in the filing. “We have been partners with Domino’s in India for more than twenty-five years, with that experience we hope to add value in DP Eurasia’s business and also create value for our shareholders.”