DOMINO'S COMPLETES JOEY'S PIZZA TRANSITION IN GERMANY AHEAD OF SCHEDULE

Written on the 15 December 2016

DOMINO'S COMPLETES JOEY'S PIZZA TRANSITION IN GERMANY AHEAD OF SCHEDULE

DOMINO'S Pizza (ASX: DMP) has completed the final stages of its acquisition of Germany's Joey's Pizza, and has completed the final conversion of the acquired stores to Domino's six months ahead of schedule.

Brisbane-based Domino's and UK listed Domino's Pizza Group plc (DPG) announced in December 2015 the formation of a joint venture to acquire the 'Joey's Pizza' chain of 212 stores in Germany, as well as selected Domino's stores operated by DPG.

The final conversion was completed one year after the acquisition and Domino's now has more stores than any other pizza brand in Germany.

Domino's Pizza Enterprises Ltd Group CEO and managing director Don Meij (ipctured) says all Domino's stores in Germany are now also on the same IT platform.

"Our operations in Germany will benefit from a single, highly recognisable brand, and from the technology and operational investments our business makes across the seven countries in which we operate," says Meij.

"We are focused on expanding our network in Germany even further, and adding organic growth through locally-inspired menu offerings and the best customer service platforms available in the market."

Domino's Europe CEO Andrew Rennie says the company's innovations, including its ordering app, on-time cooking and GPS Driver Tracker can be rolled out across Germany.

These new technologies have been crucial in the company's domination of the Australian market and are being eaten up in Europe - Domino's digital sales growth in Europe is up 38.1 per cent.

"Removing friction when customers are ordering, reducing the time it takes to collect or have a pizza delivered, and providing hot, fresh, tasty meals, that is a universal customer demand," says Rennie.

At Domino's AGM the Company reaffirmed guidance for Same Store Sales in Europe at +5 to +7%, and forecast record organic new store growth for the region in 2017.

Domino's is trading down 2.48 per cent at $63.63 per share early this afternoon.

 

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