Pizza delivery outfit Domino's Pizza is to acquire the master franchise and 12 outlets of the Domino's brand in Switzerland, Liechtenstein and Luxembourg.
The British outfit, which already owns seven international franchises, says it is looking to cash in on the affluent Swiss market's high internet penetration, a growing channel for orders.
The company will purchase Domino's Switzerland for around 7m Swiss francs (£4.67m) in cash, plus a further amount for the stock, cash in tills, cash and rent deposits, which is not expected to be more than 0.7m francs (£0.47m).
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Lance Batchelor, Chief Executive Officer of Domino's Pizza, said: "Switzerland represents a good opportunity to continue our expansion into Europe by acquiring an existing business with a basic infrastructure and some existing stores with good potential in a very affluent consumer market. The encouraging progress we have seen in our first 16 months in Germany has convinced us this opportunity is one not to be missed."
Domino's also revealed it has an option to buy the Master Franchise Agreement for Austria.
BS
