Domino’s buys stake in Taiwan operations
It plans to expand to 400 from 138 stores in the market in the long term.
Multinational restaurant chain Domino’s Pizza Enterprises (DPE) is acquiring a 100% interest in PizzaVest Company in Taiwan from Formosa International Hotels Corporation, buying its stores and franchise rights for about $61.53m (NT$1.7b), according to a press release.
PizzaVest, which held Domino’s in Taiwan, has the second largest pizza chain in the market, with a network of 138 franchised stores and 19 corporate stores. DPE intends to expand the business with a long-term goal of over 400 stores and growing average weekly unit sales.
DPE expects to work with experienced local pizza experts who “built a solid foundation in the market,” the company said.
The transaction is expected to complete in the first half of FY 2022.