Jubilant Foodworks Netherlands to acquire Fides Food Systems
Mumbai, Feb 19 (IANS) Jubilant Foodworks Netherlands has entered into a purchase agreement with Turkish Private Equity Fund II L.P. to fully acquire Fides Food Systems Cooperatief U.A. for around 24.80 million pound sterling.
Fides Food Systems holds 32.81 per cent stake in DP Eurasia N.V., the exclusive master franchisee of Domino’s Pizza brand in Turkey, Russia, Azerbaijan and Georgia.
Jubilant Foodworks Ltd has also executed the Purchase Agreement as guarantor in connection with the investment obligations of Jubilant Foodworks Netherlands B.V., the former said in a regulatory filing.
Shyam S. Bhartia, Chairman, Jubilant Foodworks Ltd said: “We are happy to announce our acquisition of Fides for 32.81 per cent 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.”
Jubilant Foodworks has the exclusive rights to develop and operate Domino’s Pizza and Dunkin’ Donuts in India.