Domino's Pizza Acquires Norwegian Pizza Operator Dolly Dimple's.
13 March 2017 - UK-based leading pizza company Domino's Pizza Group plc (LSE: DOM) and Nordic partner Pizza Pizza Norway have acquired Norwegian pizza operator Dolly Dimple's, the company said.
Dolly Dimple's is the third largest pizza company in Norway, with 42 stores across the country and a well-established and strong heritage of customer service.
It is being acquired from Norges Gruppen for an enterprise value of GBP 4m (USD 4.87m).
Domino's plans to integrate the Dolly Dimple's business into the start-up Domino's operation within Norway, which currently has 12 operating stores.
The groups have limited geographical overlap and the combined operation will have around 50 stores by the end of the year, providing nationwide coverage.
In a series of transactions, which are dependent upon approval from the Central Bank of Iceland, the group shareholdings will be restructured and DPG will assume a controlling share in the Norway, Sweden and Iceland Domino's businesses ahead of schedule.
DPG will acquire the Iceland group 51% shareholding in Pizza Pizza Norway and increase its stake in the Icelandic business from 49% to 51%.
Domino's Pizza Group has a total of over 1,000 stores and 35,000 colleagues. Headquartered in Milton Keynes, the first UK store opened in Luton in 1985 and the first Irish store opened in 1991.
The company holds the exclusive master franchise rights for the US-based Domino's brand in the UK and ROI, Switzerland, Liechtenstein and Luxembourg.
Additionally DPG owns a strategic stake in the largest pizza delivery business in Germany, and significant minority interests in the master franchisees for Domino's Pizza in Iceland, Norway and Sweden making it one of the largest international Domino's franchisees.
Target: Dolly Dimple's
Buyer: Domino's Pizza Group, Pizza Pizza Norway
Vendor: Norges Gruppen
Deal size in USD: 4.87m
Buyer advisor: , ,
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|Publication:||M & A Navigator|
|Date:||Mar 13, 2017|
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