Domino’s Pizza Group invests £24m to secure future growth

British pizza company Domino’s Pizza Group plc has invested £24m in its Nordic operations.

The company has used the eight-figure sum to acquire minority interests in its Icelandic, Norwegian and Swedish businesses from founder and chairman of Domino’s Pizza in Iceland, Birgir Bieltvedt, and a number of other investors.

Following the transaction, Domino’s will hold a 49% stake in its Iceland arm, and 45% in both Domino’s Norway and Sweden.

The deal is expected to enhance the firm’s earnings on an underlying basis from 2017.

Domino’s Pizza Group CEO David Wild said: “We are delighted to be investing in these exciting markets, which hold great potential for the group.

“Our skills in e-commerce, marketing and supply chain will complement the excellent local know-how of our partners in Iceland, Norway and Sweden and help to grow the Domino’s brand.”

He added: “This is a great deal for everyone concerned and we look forward to welcoming our new colleagues and customers.”

Domino’s Iceland boss Birgir Bieltvedt said the firm has a “talented and motivated team” in place”, adding that he is excited to begin working alongside his UK partners to further develop the Domino’s brand.

He commented: “The combination of two partners in these markets, with our own unique skills and knowledge, combined with the financial strength which Domino’s Pizza Group brings, will create a strong business in countries with significant potential for future growth.”

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