Domino’s buys stake in Taiwan operations | Retail Asia

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.

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