India’s Jubilant Foodworks Ltd said Friday it has signed a deal with a Turkish private equity fund to acquire about a third of a company that runs the Domino’s Pizza chain in four countries.
Jubilant has inked an agreement with Turkish Private Equity Fund II to fully acquire the Netherlands-based Fides Food Systems Coöperatief UA. Fides, in turn, owns 32.81% of DP Eurasia NV.
DP Eurasia is listed on the London Stock Exchange and is the exclusive master franchisee of the Domino’s Pizza brand in Turkey, Russia, Azerbaijan and Georgia.
DP Eurasia and its subsidiaries operated a total of 771 stores as on December 31, 2020. Of these, 568 are in Turkey, 190 in Russia, nine in Azerbaijan and four in Georgia.
Jubilant said it will invest about GBP24.80 million (US$34.7 million) for the purchase. It expects to complete the deal within 20 days.
Jubilant Foodworks is part of the Jubilant Bhartia Group, which is led by chairman Shyam S. Bhartia and co-chairman Hari S. Bhartia. The company has the exclusive rights to operate Domino’s Pizza stores in India, Sri Lanka, Bangladesh and Nepal. It had a network of 1,314 restaurants in 285 cities as of December 31, 2020.
The company also owns exclusive rights to develop and operate Dunkin’ Donuts restaurants in India. It runs 27 Dunkin’ Donuts restaurants across eight cities in India.