Domino's Pizza takes stake in London franchises
(ShareCast News) - Domino's Pizza Group announced the creation of a partnership with its largest franchisee in London on Friday.
The FTSE 250 company said that, as part of the transaction, it agreed to pay £24m for a 75% stake in a newly-formed company, whose assets will consist of all the franchisee's operations being 25 existing Domino's stores in London.
"The creation of the partnership will enable DPG to take advantage of the significant growth opportunity in the London area," the Domino's board said in its statement.
"The transaction is subject to final contract, with completion expected in September 2017."