JUBILANT FOODWORKS TO BUY FIDES FOOD

NEW DELHI: Jubilant Foodworks Ltd (JLF) which operates Domino’s Pizza and Dunkin’ Donuts outlets in India is set to fully acquire the Netherlandsbased Fides Food Systems Coöperatief UA via its wholly-owned subsidiary, Jubilant Foodworks Netherlands B.V. for approximately £24.80 million.

The acquisition of Fides by Jubilant Foodworks Netherlands B.V. will enable JFL to indirectly hold 32.81% shares in DP Eurasia, which is the exclusive master franchisee of the Domino’s Pizza brand in Turkey, Russia, Azerbaijan, and Georgia, JFL informed the exchanges on Friday.

To this end, Jubilant Foodworks Netherlands B.V. and JFL, acting as a guarantor for the investment obligation of its wholly-owned subsidiary, has entered into a purchase agreement with Turkish Private Equity Fund II L.P., which is the sole member of Fides, the company said.

DP Eurasia is a public company listed with the London Stock Exchange PLC. JFL, part of the Jubilant Bhartia group, operates a wide network of food services brands. The promoters of HT Media Ltd, which publishes HT, and Jubilant Foodworks are closely related. There are, however, no promoter cross-holdings.