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(Alliance News) - Domino's Pizza Group PLC on Wednesday said it has agreed to invest GBP11 million in DP Poland PLC.
The Milton Keynes, England-based pizza delivery firm, and UK franchise of wider fast food company Domino's Pizza Inc said the investment is to support growth opportunities across DPP's business. DPP is the London-based operator of Domino's pizza stores and restaurants in Poland and Croatia.
The investment will be executed through the issue of DPP shares priced at 9.92 pence each.
The issue price represents a 23% discount to DPP's closing price on Tuesday.
Shares in DP Poland closed down 1.6% to 12.70p in London on Wednesday. Domino's Pizza shares closed down 1.3% at 352.80 pence.
"The proceeds from the fundraise will be used to further accelerate DPP's growth by leveraging its organic sales expansion with store rollouts and potential acquisition opportunities. The board of DPP estimates the market potential of Poland to be approximately 500 Domino's stores by 2030," Domino's said.
By Sophie Rose, Alliance News senior reporter
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