Everstone to buy Indonesia Domino's Pizza franchise

V.P. Sharma, vice president director at MAP, said in a briefing on Wednesday that Everstone would take a 51% interest with MAP holding the remainder. He said the decision was based on the recognition that additional strategic support is necessary to realize the growth potential of Domino's in Indonesia.

The company is also considering a similar approach for the domestic Burger King franchise.

MAP, which was incorporated in 1995 and listed on the Jakarta Stock Exchange in 2004, has a portfolio of more than 150 brands and 1,809 retail outlets across 59 cities in Indonesia. Its assets cover department stores, sports and leisure, fashion, kids wear, food and beverages, supermarkets and lifestyle.

In addition to Domino's Pizza and Burger King, MAP holds the Indonesia franchises for brands such as Cold Stone Creamery, Genki Sushi, Godiva, Pizza Express and Starbucks. It operates about 60 Domino's Pizza outlets and 48 Burger King outlets.

MAP reported a net income of INR328 billion ($28.5 million) in 2012, up from INR433 billion the previous year. Net revenue rose from INR7.58 trillion to INR9.73 trillion over the same period.

Everstone, which has $2 billion in assets under management, is a prolific investor in the consumer sector. F&B Asia Ventures, an investment holding company held by the private equity firm's second fund, has assets such as the Harry's, a premium bar and restaurant franchise in Singapore and India and Duck & Rice, a casual dining chain in India and Southeast Asia.

Last year, Everstone announced a joint venture with Burger King Worldwide to roll out the hamburger chain in India. It holds a 25-year master franchise for Burger King in the country.

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• Topics
• Consumer
• Southeast Asia
• Buyouts
• buyout
• Consumer
• Southeast Asia
• Indonesia
• Everstone Capital
• India