Business / Companies
Domino's Pizza heads for Zimbabwe
11 Apr 2014 at 07:13hrs | Views
One of the leading global pizza brands, Domino's, will soon be available in the country after South Africa-based Taste Holdings signed a 30-year master franchise agreement with Domino's Pizza International Franchising to develop the brand in seven Southern African countries including Zimbabwe.
Taste said its goal was to ensure Domino's Pizza is the leading pizza delivery brand in Southern Africa in the next five years.
Last year Domino's Pizza had global retail sales of over $8 billion.
The move will bring competition to the country's fast food outlets Pizza Inn and Pizza Slice.
Domino's, which is listed on the New York Stock Exchange, has more than 10, 000 corporate and franchised stores in 70 countries delivering more than 1 million pizzas worldwide daily.
The brand has a strong presence in the United Kingdom, Australia, Mexico, India, France and Turkey among other markets.
"The board of directors of Taste announced that Taste Food Franchising (Pty) Ltd. ("TFF"), a wholly owned subsidiary of Taste, has signed an exclusive 30-year Master Franchise Agreement ("MFA") with Domino's Pizza International Franchising Inc," the company said.
"In terms of the MFA, TFF holds the exclusive rights to develop the international Domino's Pizza brand, initially in seven Southern African countries, namely South Africa, Lesotho, Swaziland, Namibia, Botswana, Zimbabwe and Mozambique. Zambia and Malawi will follow on the fulfilment of certain conditions."
Taste said its goal was to ensure Domino's Pizza is the leading pizza delivery brand in Southern Africa in the next five years.
Last year Domino's Pizza had global retail sales of over $8 billion.
The move will bring competition to the country's fast food outlets Pizza Inn and Pizza Slice.
Domino's, which is listed on the New York Stock Exchange, has more than 10, 000 corporate and franchised stores in 70 countries delivering more than 1 million pizzas worldwide daily.
The brand has a strong presence in the United Kingdom, Australia, Mexico, India, France and Turkey among other markets.
"The board of directors of Taste announced that Taste Food Franchising (Pty) Ltd. ("TFF"), a wholly owned subsidiary of Taste, has signed an exclusive 30-year Master Franchise Agreement ("MFA") with Domino's Pizza International Franchising Inc," the company said.
"In terms of the MFA, TFF holds the exclusive rights to develop the international Domino's Pizza brand, initially in seven Southern African countries, namely South Africa, Lesotho, Swaziland, Namibia, Botswana, Zimbabwe and Mozambique. Zambia and Malawi will follow on the fulfilment of certain conditions."
Source - chronicle
