Domino’s Pizza Enterprises is spending $150 million to acquire the balance of its joint venture operations in Germany.
Current and new investors will fund the acquisition with an institutional placement of about 2.3 million new shares at $66.38 per share. Eligible shareholders can also apply for new shares valued up to $30,000.
Domino’s Pizza Enterprises CEO, Don Meij, said “We are very pleased with the support shown by new and
existing institutional investors for the Placement, which reflected shareholder feedback prior to the capital
raising.
“We look forward to acquiring full ownership in Domino’s Pizza Germany and continuing to build the momentum across our network and delivering value to our customers, team members, franchisees and investors.”
Expansion in Asia
Just days earlier the ASX-listed pizza firm completed its acquisition of Domino’s Malaysia and Domino’s Singapore.
The acquisition of Domino’s Cambodia is subject to regulatory approvals, and is expected to complete in the first quarter of 2023.
Ringo Joannes, previously CEO of the Belgium/Luxembourg business, will head up the new Asian markets.
Anneke de Groot, Domino’s development director for the Netherlands, replaces Joannes as CEO of Belgium/Luxembourg.
She has more than a decade of experience with the pizza chain, heading up franchisee recruitment, store development and construction in the Netherlands and Belgium.
Swift growth in the domestic market
Domino’s international expansion mirrors the swift growth in the domestic market with a mega goal for 2024. There are 750 Domino’s outlets across Australia and the 150th store opens in New Zealand this month.
Domino’s announced 10 stores will open across Australia and New Zealand before the end of the year. Another 30 are in the pipeline to open within this financial year.
The rate of growth has more than doubled in comparison to the last financial year which had 22 store openings.
