Monday, 3 March 2008

Domino's Pizza Oz Buys Pinky's Pizza Chain

Don MeijDomino's Pizza has bought Pinky's Pizza, a chain which operates 27 pizza outlets across Victoria, New South Wales and South Australia.

Domino's Pizza chief executive Don Meij said the was purchase for an undisclosed sum and was a significant step for Domino's.

Mr Meij said that there would be one-off restructuring costs expensed in the 2008 financial year and he expected a lift in core operating income rom the deal in 2009.

He said while the 27 stores would continue trading as Pinky's Pizza, the franchisees would be offered to convert to Domino's Pizza branding.

"All Pinky's Pizza stores will continue to trade under their current brand, with conversions to Domino's stores occurring over the next six months,'' Mr Meij said.

"However, at this stage it's too early to say which stores will be converted.''

The acquisition comes on the consolidation and increased competition in the Australian pizza market.

Domino's target is to develop a network of at least 743 stores by the end of fiscal 2008 financial, bringing the full-year increase in Dominos stores to more than 80

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