Domino's snaps up 75% of German franchise business
Domino's Pizza UK and Ireland has announced the acquisition of 75% of Intergrowth Enterprises, the master franchisee for Domino's Pizza in Germany.
The other 25% will be retained by the vendor Briskas, an affiliate of Grand City Hotels Group.
Chris Moore, chief executive officer, said "The German pizza market represents a particularly fertile ground for Domino's with a limited number of relatively small players and no established international pizza delivery brand."
"This exciting move into a new territory gives us access to the potential opportunity of 2,000 stores servicing around 150 million people in two of the world's leading economies."
Domino's Germany will be operated by a dedicated team to ensure the UK and Ireland management team remains focused on existing markets.
Domino's Germany will be provided with a €7.5m (£6.7m) loan facility from the existing cash reserve of its new parent company in order to fund its development plans. This is in addition to the €2.5m (£2.2m) of loan capital already provided by Briskas.
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By Gemma Rowbotham
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