Last checked at 8 Mar 2021 07:00
LEI: 213800Q6ZKHAOV48JL75
8 March 2021
Domino's Pizza Group plc
Disposal of Sweden Business
Domino's Pizza Group plc ("DPG" or the "Company") is today announcing that it has reached agreement to sellits entire shareholding in PPS Foods AB ("Domino's Sweden" or "DPS") to Eyja fjárfestingafélag III EHF ("Purchaser"), a wholly owned subsidiary of Eyja fjárfestingafélag EHF, a company controlled by Birgir Bieltvedt. Mr. Bieltvedt is an indirect owner of DP Norway AS. DPG will pay €2m (£1.8m) in cash to the Purchaser as part of the transaction. The transaction is expected to complete on 2 May 2021.
The disposal of Domino's Sweden is part of DPG's planned exit from all directly operated international markets, to allow management to focus on its core UK and Ireland operations, as announced by the Company in October 2019, and follows the exit in 2020 from Domino's Norway.
Domino's Sweden is the master franchisee of Domino's Pizza in Sweden. At the date of this announcement, DPS operates 14 stores in Sweden. Domino's Sweden's underlying operating loss for the year ended 31 December 2019 was £4.0m and the value of its gross assets were £9.8m as at 30 June 2020. Following completion, funding previously allocated to Domino's Sweden will be retained within DPG.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulations (EU) No. 596/2014 ("MAR") and is disclosed in accordance with DPG's obligations under Article 17 of MAR.
The person responsible for making this notification is Adrian Bushnell, Company Secretary.
Contacts
For Domino's Pizza Group plc:Investor Relations
Geoff Callow, Fiona O'Nolan - Equitory +44 (0) 7710 440158
Media:
Tim Danaher, Samantha Chiene - Brunswick +44 (0) 207 404 5959
About Domino's Pizza Group
Domino's Pizza Group plc is the UK's leading pizza brand and a major player in the Irish market. We hold the master franchise agreement to own, operate and franchise Domino's stores in the UK, the Republic of Ireland, Switzerland, Iceland and Liechtenstein. We also have an associate investment in Germanyand Luxembourg.