Australia’s Domino’s Pizza Enterprises has signed an agreement with Bain Capital Partners to acquire 75% stake in Domino’s Pizza Japan (DPJ) for JPY12bn ($124.3m).
The brand's Japan division is the third largest pizza delivery chain in the country with 259 stores, comprising 216 corporate stores and 43 franchise stores.
DPJ operates under a 20 year master franchise agreement with Domino's Pizza that commenced in March 2011, with an option to extend for a further ten years.
Domino's CEO and managing director Don Meij said that the acquisition represents an exciting opportunity to leverage the proven track record of successfully growing the Domino's network to deliver shareholder value.
"We look forward to the ability to introduce DMP's product expertise, innovation and digital leadership to Japanese customers," Meij added.
"The acquisition increases DMP's total store network to over 1,200 stores, further cementing DPE as the leading international Domino's franchisee."
The announcement comes at a time when Domino's Australia posted a net profit of $28.7m for the full year to 30 June, an increase of 13% on the previous year.
