Jubilant Foodworks Limited (JFL), which operates Domino’s Pizza and Dunkin Donuts in India, willfully acquire Netherlands-based Fides Food Systems, for GBP 24.80 million through its wholly-owned subsidiary – Jubilant Foodworks Netherlands BV, the company said in a statement on Friday.
Fides holds 32.81% equity shares in DP Eurasia NV, which is the exclusive master franchisee of Domino’s Pizza in Turkey, Russia, Azerbaijan and Georgia. DP Eurasia (together with its subsidiaries) offers pizza delivery and takeaway/ eat-in facilities at 771 stores.
“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,” JFL chairman Shyam Bhartia said in a statement.
Jubilant Foodworks Netherlands BV and Jubilant Foodworks Ltd, acting as a guarantor for investment obligation of its wholly-owned subsidiary, has entered into the purchase agreement with Turkish Private Equity Fund II LP, which is the sole member of Fides.
JFL, India’s largest food services company, operates 1,314 Domino’s Pizza restaurants. Its own businesses include Chinese cuisine brand Hong’s Kitchen, biryani brand Ekdum and a ready-to-cook range of sauces, gravies and pastes under the label ChefBoss.
