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Domino’s buys franchisee stake
Domino’s Pizza has bought 75 per cent of the main franchisee for the pizza delivery group in Germany, Intergrowth Enterprises. The other 25 per cent will be retained by Briskas, part of the German hotel operator Grand City Hotels Group. “While the total market size is yet to be determined, the company aims to open at least 400 stores over the next 10 years and believes that the market could ultimately accommodate more than double that figure,” said Domino’s in a statement. Under the transaction, Domino’s has bought the 75 per cent interest in the franchisee for 2.2m shares of 1.5625p each.