Domino's announces £1.8m sale of Swedish arm to focus on "core" UK and Ireland operations
An international fast food chain has announced its disposal of a European branch as part of its plans to focus on the UK and Ireland.
Domino’s Pizza Group (DPG) has today reported that it has reached an agreement for the sale of Domino’s Sweden in a deal worth £1.8m.
The arm will be acquired by an indirect owner of Domino’s Norway, with the deal set to complete in early May.
The transaction is part of the company’s plan to withdraw from all of its international market to focus on its core UK and Ireland operations.
Domino’s Sweden is the master franchisee of the brand in Sweden, operating 14 stores across the country.
The Swedish branch reported a £4m operating loss in 2019, will gross asset value sitting at £9.8m by the middle of June 2020.
DPG will retain all funding previously allocated to Domino’s Sweden.
Domino’s Pizza Group commented: “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.”
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