ZAGREB (Croatia), June 15 (SeeNews) - DP Poland [LSE:DPP], an operator of pizza stores and restaurants across Poland, said on Wednesday that it has agreed to acquire the entire issued share capital All About Pizza, active as Domino's Croatia, for a total consideration of some 2.4 million pounds (2.8 million euro).
The acquisition will be carried out via the issue of 29,787,234 ordinary shares in DP Poland based on an 8 pence per share issue price, DP Poland said in a filing to the London Stock Exchange.
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All About Pizza signed a franchise agreement with Domino's Pizza International Franchising Inc. in July 2019 to operate Domino's stores in Croatia and now operates two stores in Zagreb, with a third fully pre-financed and scheduled to open in June 2022.
The agreement on the acquisition depends on a reorganisation of the Croatian company and is expected to be by completed by the end of June or by the longstop date of July 29, 2022.
All About Pizza generated a revenue of 951,000 euro and a negative EBITDA of 110,000 euro in 2021.
DP Poland believes that the estimated market potential is approximately 50 stores across Croatia.
(1 pound= 1.152 euro)