Domino's Pizza Enterprises buys Danish franchise
The franchisor says the Scandinavian country has potential for 150 stores.
Domino's Pizza Enterprises (DPE) has increased its target store count in Europe after securing the rights to operate the global pizza brand in Denmark.
The ASX-listed franchisor announced that it paid to acquire the master franchise for Domino's in Denmark for €2.5 million (AU$4 million).
Domino's Denmark, formerly owned by Domino's Pizza Scandinavia A/S, ceased operations and entered administration in early March.
DPE is expected to restart operations in Denmark with 20 stores within the next year.
"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," the company said in an announcement.
DPE management says Denmark has a potential for 150 franchised and corporate stores, revising its future store count target in Europe from 2,700 to 2,850 stores.
The acquisition is expected to be completed during April and May.
The largest master franchisee of Domino's outside of the United States, DPE now has more than 1,000 Domino's stores in Europe, in addition to operations in Australia, New Zealand and Japan.
