Mitra Adiperkasa has sold its majority stake in Domino’s Pizza Indonesia to private equity firm Everstone Capital.

The two have reached an agreement that will see Everstone taking 51 per cent stake in Domino’s Pizza, which has 60 outlets in Indonesia.

“Our balance sheet is already stretched. By having a strategic partner, we can invest our limited capital into other brands like Starbucks,” said Mitra Adiperkasa VP director Virendra Prakash Sharma.

Sharma said they’re cautiously optimistic this year, however the long term outlook is brighter as Indonesia’s middle class continues to grow.

Analysts believe Everstone’s investment in Domino’s will help it catch rivals KFC, McDonald’s and other fast food chains.

Mitra Adiperkasa is also in talks with other equity firms to sell a majority stake in Burger King, with 48 outlets in the nation.