Jubilant Foodworks Limited (JFL), the largest foodservice company in India, today announced it will fully acquire Fides Food Systems Coöperatief U.A., Netherlands (Fides) for an agreed investment of approximately GBP 24.80 million through its wholly owned subsidiary – Jubilant Foodworks Netherlands B.V.
Fides is the beneficial owner of 32.81% of equity shares of DP Eurasia N.V. (DP Eurasia). DP Eurasia is a public company listed with London Stock Exchange PLC and is the exclusive master franchisee of the Domino’s Pizza brand in Turkey, Russia, Azerbaijan and Georgia. DP Eurasia (together with its subsidiaries) offers pizza delivery and takeaway/ eat-in facilities at 771 stores (568 in Turkey, 190 in Russia, 9 in Azerbaijan and 4 in Georgia as on 31 December 2020)
To this end, Jubilant Foodworks Netherlands B.V. and Jubilant Foodworks Limited (acting as a guarantor for investment obligation of its wholly owned subsidiary) has entered into a Purchase Agreement with Turkish Private Equity Fund II L.P., which is the sole member of Fides.
Shyam S. Bhartia, Chairman and Hari S. Bhartia, Co-Chairman, Jubilant Foodworks Limited said, “We are happy to announce our acquisition of Fides for 32.81% equity stake in DP Eurasia, one of the large master franchisee of the Domino’s Pizza brand. We have been partners with Domino’s in India for more than twenty-five years, with that experience we hope to add value in DP Eurasia’s business and also create value for our shareholders.”