As the pizza kings of Britain Dominos are always keen to enter new markets, taking their industry knowledge and repackaging it overseas. This week they have released the news of their new acquisition, joining forces with Australian Dominos owners in a venture that will reinvent the business.
Joey’s Pizza is brand that boasts 212 stores across Germany with annual sales of €143m (£103.9m). With such healthy sales figures it is understandable why Dominos would want to get involved, illustrating how a recognised brand can duplicate their niche globally.
Germany is surprisingly the fourth largest pizza market with this deal worth staggering £58m.
Don Meij, chief executive of Domino’s Pizza Enterprises, said that entering the German market represented a long-term growth opportunity.
“The acquisition of the market-leading Joey’s Pizza business provides immediate scale and marketing presence which we can build from,” he said.
When will this changeover take place?
Like any business handovers things take time, with dominos claiming to be the owners of Joey’s in the first quarter of 2016. Subject to regulatory checks we at Pizza News eagerly await what next year has to bring the pizza industry.
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