Domino’s Pizza: Indian master franchisee buys unit of Bangladesh
Jubilant FoodWorks, the master franchisee of Domino's Pizza in India, Sri Lanka, Bangladesh and Nepal, has fully acquired Jubilant Golden Harvest Ltd, the franchisee of Domino's Pizza in Bangladesh.
Domino's Pizza entered Bangladesh via a joint venture between India's leading food service company Jubilant FoodWorks and Bangladesh's Golden Harvest QSR Limited, a part of Golden Harvest Group.
The brand operated under the joint venture named Jubilant Golden Harvest Ltd. Meanwhile, Jubilant FoodWorks has completed the acquisition of 49 per cent stake from Golden Harvest in Jubilant Golden Harvest on Tuesday at an aggregate amount of Tk 38.90 crore.
After the acquisition, the company's stake in JGH increased from 51 per cent to 100 per cent (with 1 share of JGHL being held by a nominee of the company in order to comply with local law requirements in Bangladesh), according to a disclosure.