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Jubilant Foodworks to acquire indirect stake in Domino's Pizza brand franchisee in Turkey, Russia, Azerbaijan and Georgia

Capital Market 

Jubilant Foodworks announced that the company's wholly owned subsidiary, Jubilant Foodworks Netherlands B. V. has entered into a purchase agreement with Turkish Private Equity Fund II L. P. to fully acquire Fides Food Systems Coeratief U. A. which holds 32.81% equity shares in DP Eurasia N. V. (DP Eurasia) (Purchase Agreement).

Jubilant Foodworks (the company) has also executed the Purchase Agreement as guarantor in connection with the investment obligations of Jubilant Foodworks Netherlands B. V.

DP Eurasia is a public company listed with London Stock Exchange PLC, and is the exclusive master franchisee of the Domino's Pizza brand in Turkey, Russia, Azerbaijan and Georgia. DP Eurasia (together with its subsidiaries) offers pizza delivery and takeaway/eat-in facilities at 771 stores (568 in Turkey, 190 in Russia, 9 in Azerbaijan and 4 in Georgia as on 31 December 2020).

The acquisition of Fides by Jubilant Foodworks Netherlands B. V. will enable Jubilant Foodworks (the Company) to indirectly hold 32.81% shares in DP Eurasia which is the exclusive master franchisee of the Domino's Pizza brand in Turkey, Russia, Azerbaijan and Georgia. The cost of acquisition is GBP 24.80 million.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, February 19 2021. 18:04 IST