DMP taking full control of Domino’s Pizza Japan
Private equity firm Bain Capital is to exit Domino’s Pizza Japan.
Bain Capital Domino Hong Kong holds a 25 per cent stake in Domino’s Pizza Japan (DPJ), a JV with Domino’s Pizza Enterprises (DMP). Bain expects to complete the exit by the end of August, Reuters reports.
DMP is Domino’s largest franchisee outside of the US, holding the master franchise rights to the brand and network in Australia, New Zealand, Belgium, France, Germany, Japan and The Netherlands. It runs more than 2000 stores in these markets.
DMP acquired a 75 per cent stake in DPJ, the master franchisee for Japan, for ¥12 billion (US$124 million) in 2013 from owner Bain Capital. The terms of the acquisition included an exit mechanism, and Domino’s says it will fund the purchase of Bain’s 25 per cent stake.
There were 472 Domino’s stores in Japan as at February, and the chain plans to open 850 more by 2022.
“Japan is an impressive market inside our business,” says DMP group CEO/MD Don Meij. “When we bought the business, Domino’s was the third-largest pizza delivery chain in Japan, and in the past financial year we became the market leader.”