- July 22, 2020 / 3 min readDash Brands is running over 300 stores across nine cities in China and growing over 30% for the past 5 years.
Dash Brands Ltd., the master franchisee of Domino’s Pizza® in China has announced that during the second quarter of 2020 a subsidiary of Domino’s Pizza, Inc. acquired a non-controlling interest in the Company for $40 million.
Based on the terms of the agreement, Domino’s Pizza is required to invest an additional $40 million in the Company in the first quarter of 2021, assuming specified performance conditions are satisfied, and may alternatively make the additional investment at its option if such performance conditions are not satisfied.
“We are very pleased to make this announcement today. We have accomplished a primary goal to deepen the commitment and build upon our relationship with Domino’s Pizza. I’m proud of the Dash Brands team and the eﬀort they have put forth to execute our growth plan for the Domino’s brand in China. This significant investment highlights the excitement Domino’s Pizza has in our leadership to grow the brand in China,” said Frank Krasovec, Chairman and co-founder of Dash Brands Ltd.
In conjunction with the investment, Dash Brands is pleased to welcome Joe Jordan, Executive Vice President, International of Domino's Pizza, as a member of the Company’s Board of Directors.
“We are excited about our investment with the Dash Brands team as they continue to grow the Domino’s brand in China, a market with tremendous long-term potential. I am excited to join the Dash Brands Board of Directors and play a role in helping Dash Brands achieve the potential for the Domino’s brand in China that we all believe is possible,” added Jordan.
Dash Brands is running over 300 stores across nine cities in China and growing over 30% for the past 5 years.
“Domino’s leads with delivery expertise and technology innovation and through our various online ordering options, currently has approximately 85% of orders coming from digital orders,” said Aileen Wang, Chief Executive Officer of Dash Brands.
Jefferies LLC served as advisor to Dash Brands and Goldman Sachs & Co. LLC served as advisor to Domino’s Pizza.
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