Domino's Australia acquires a slice of Denmark
10 April 2019, Written by Business News Australia
Domino's operations in Denmark has been acquired by the Australian arm of the pizza chain (ASX: DMP) for $4 million.
Domino's Denmark was formerly owned by Domino's Pizza Scandinavia.
The acquisition is part of Domino's Pizza Enterprises' (DPE) expansion in Europe, and will expand the group's store count in Europe from 2,700 to 2,850.
Completion of the total acquisition is expected to occur during April and May 2019.
The group will continue to expand within Denmark, with the company predicting that the country has the capacity for 150 stores.
"DPE will use its business know-how to carefully reinvigorate operations in Denmark which will be led by senior executives within DPE Europe who will relocate to Denmark," says DPE.
The company's plans for global domination continue to fall into place, with the acquisition of Domino's Denmark just the company's latest step.
The group announced that it now receives two pizza orders every second during its 1H19 results.
This bewildering figure has resulted in the company seeing online sales during 1H19 rise by 16.5 per cent or $132.2 million.
Alongside significant contributions from Japan and Europe, Domino's online storefront helped push the company's overall sales up 14.6 per cent to $1.43 billion during the half.
More than half of the company's EBITDA came from Europe and Japan which delivered $71 million together.
Globally sales grew by 3.3 per cent reflecting strong performances in Japan, Germany, Belgium, and New Zealand. Domino's says sales in Australia were softer than usual and lower than expected in France.
The company, the largest master franchisee of Domino's outside of the United States, now has more than 1000 Domino's stores in Europe, 700 in Australia, and 300 in Germany.
Shares in Domino's are up 1.58 per cent to $43.72 per share at 4.10pm AEST.
Business News Australia
Author: Business News Australia