OSLO: Domino’s Pizza Group plc (DPG) has reached agreement to sell its entire shareholding in PPS Foods AB (Domino’s Sweden) to Eyja fjárfestingafélag III EHF
Eyja fjárfestingafélag III EHF is 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.
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 Germany and Luxembourg.