Domino’s Pizza was on investor’s shopping lists today on news that it has agreed new minimum store opening targets with its US-based brand owner.
Domino’s Pizza Group Ltd, a wholly-owned subsidiary of the UK and
Ireland (IREL.OB - news) pizza delivery firm, announced the targets which form part of the development term of its master franchise agreement with Domino’s Pizza International.
The development term, renewed until 31 December 2016 on similar terms to the existing, gives the group the right to open new stores in the territories of the UK and Ireland.
Under the master franchise agreement, it has the option to renew the development term for subsequent periods of ten years.
“The option to secure additional development rights in the future secures the group’s long-term rights to use the Domino’s Pizza brand in these territories,” it said.
In respect of the royalty fee payable by the firm to Domino’s Pizza International, it has been agreed that the existing discount structure will continue on the same basis.
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