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DP Poland
- BY: Andrew Hore |
- POSTED: 21/07/2010 |
- COMMENTS: Add yours
DP Poland has raised £6.5m at 50p a share prior to joining Aim.
The Domino’s Pizza master franchise owner in Poland will be valued at £9.9m at the placing price. Dealings are set to begin on 28 July.
Executive chairman Richard Worthington, marketing director Peter Shaw and non-executive director Rob Morrish were all involved with Polish coffee bars operator Coffeeheaven International, which was acquired by Whitbread’s subsidiary Costa Coffee at the beginning of 2010 for £36m.
The franchise rights have been awarded to DP Poland for 15 years with the option to extend for a further 10 years.
The plan for DP Poland is to open at least 50 stores in Poland by 2015. There should be 27 opened by the end of 2012. The initial focus will be on Warsaw. Opening up company-owned stores is more costly than sub-franchising but it appears that the stores will be predominantly company-owned in the first few years.
Poland’s population is two-thirds of the size of the UK but it will take a long time for DP Poland to get anywhere near as profitable as its London-listed UK counterpart Domino’s Pizza UK and Ireland.
The menu will be tailored to the Polish market and will include Polish sausage, regional cheeses and local vegetables as well as variations on the standard pizzas.
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