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Private Equity | 23 May 2014

Everstone Capital Invests In Dominos' Indonesian Franchise

by Pranali Shah
Everstone Capital Invests In Dominos' Indonesian Franchise
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India and South East Asia focused PE investor Everstone Capital has acquired a controlling 51% stake in Indonesian franchise of Dominos Pizza, PT Dom Pizza Indonesia for $20 Mn. The fund will be used to expand its existing operations of 60 branded pizza outlets in six Indonesian cities, including Jakarta and Bali.

The PE firm would make the investment through its specialized arm F&B Asia Ventures which maintains a portfolio of food & beverage brands across India and South Asia.

Mitra Adiperkasa, the largest retailer in Indonesia with over 1800 stores in 59 cities, owns departmental stores, food and beverage chains and has a unique franchise portfolio of various global lifestyle brands like Zara, Marks & Spencer among others. It will continue to own the residual 49% in the JV.

The investment comes in a move when Everstone Capital has started to look for expansion in Food & beverage space in this region has already made some initiatives. It recently brought Burger King to India and also owns the local franchise for the popular chain Coffee Bean & Tea Leaf. In 2012, it acquired Singapore based pubs and restaurants operator Harry’s Holding.

Like India, Indonesia too has a huge population and a spending middle class. On a large consumption base, food is a big theme and interestingly pizzas as a category has made big inroads already. Its share in the Indian pizza market is 50%. The Indian fast food market growing at an annual rate of 25-30% has seen many foriegn fast food chains aggresively increasing the presence in the country

Everstone’s investment will probably help Domino's catch up with other global rivals like KFC and McDonald's that dominate the fast food chains in Indonesia.


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