KUALA LUMPUR, Aug 24 (NNN-Bernama) — Domino’s Pizza Malaysia is set to become part of the largest Domino’s network outside of the United States (US) via a proposed acquisition by Domino’s Pizza Enterprises Ltd (DPE).
DPE is an Australian-based group that operates more than 3,400 Domino’s stores in ten markets around the world.
DPE has entered into a binding agreement with Mikenwill (M) Sdn Bhd, which owns 100 per cent of Dommal Food Services Sdn Bhd, the master franchise holder in Malaysia; and Impress Foods Pte Ltd, which owns 100 per cent of Domino’s Pizza Singapore and 65 per cent of Domino’s Pizza Cambodia; as well as minority shareholders in Cambodia for the remaining 35 per cent stake.
“This will see DPE acquiring 100 per cent of the Domino’s Pizza businesses in Malaysia, Singapore, and Cambodia, comprising 287 corporate stores across these markets.
“The binding agreement entails the acquisition of the corporate stores and franchise rights held by Mikenwill (M) Sdn Bhd and Impress Foods Pte Ltd. The acquisition is expected to be completed by the end of 2022,” the pizza maker said in a statement Wednesday.
Domino’s Pizza Malaysia, Singapore, and Cambodia group chief executive officer Ba U Shan-Ting said in tandem with the acquisition, the company aims to expand the number of stores to more than 600 over the long term, setting it on the path to becoming the largest pizza chain in the three countries.
Domino’s Pizza Malaysia is the largest Domino’s market in Southeast Asia, managed by Dommal Food Services Sdn Bhd with 240 stores in the country while Impress Foods Pte Ltd manages the Singapore and Cambodia markets with 38 and nine stores respectively.
“DPE’s latest strategic acquisition of Malaysia, Singapore, and Cambodia is in line with its ongoing expansion plans, particularly in Asia.
“DPE’s impressive track record is reflected in its extensive international footprint which began in the Australian market, with Taiwan being the most recent addition to its portfolio, bringing its total presence to 13 countries around the world.
“DPE aims to achieve a store count of 3,000 stores in Asia by 2033,” the company said.
— NNN-BERNAMA
