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Company News Summary

Domino's Pizza Enterprises Enters a Binding Agreement with Formosa International Hotels Corporation

11 Jun 2021  |  08:31:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Announcement regarding Acquisition of Domino's Taiwan

Domino's Pizza Enterprises announced it has entered a binding agreement with Formosa International Hotels Corporation to acquire the corporate stores and franchise rights held by Domino's Taiwan, for NT$1.7bn (A$79m) on a cash and debt free basis. Stores are located across all major cities with substantial opportunity for further growth. The business to be acquired delivered network sales of NT$1.6bn (A$73m) and earnings before interest, tax, depreciation and amortisation (EBITDA) of NT$103m (A$4.8m) for FY 2020 under its current ownership.

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