Jubilant FoodWorks announces joint venture with Golden Harvest to launch Domino�s Pizza in Bangladesh
Posted on: 06/Mar/2018 3:33:22 PM
Jubilant FoodWorks Limited, one of the India�s largest food service company, today announced its joint venture with Golden Harvest QSR Limited to launch Domino�s Pizza in Bangladesh. Post investment in JV, Jubilant FoodWorks will be the major shareholder in the joint venture entity �Jubilant Golden Harvest Limited� with 51% of the total shareholding, while Golden Harvest QSR Limited, a part of the Golden Harvest Group, will own 49% in the JV.
Speaking on the announcement Mr. Shyam S. Bhartia, Chairman and Mr. Hari S. Bhartia, Co-Chairman, Jubilant FoodWorks Limited said, �Today�s announcement marks a significant step in our journey of international expansion. As one of the fastest growing economies, we believe that Bangladesh offers huge potential for Domino�s. We are delighted to partner with the Golden Harvest group to introduce Domino�s pizza in Bangladesh. In Golden Harvest, we have found a trusted and capable partner with a diversified set of businesses across Food, Dairy, Logistics, Commodities and other areas, and we look forward to building our business in partnership with them.�
Commenting on the development Mr. Pratik Pota, CEO & Whole time Director, Jubilant FoodWorks Limited said, �We are excited to be entering the Bangladesh market. As the eight most populous country in the world with the highest population density and a young demographic, the Bangladesh market presents a great growth opportunity for Domino�s. We are confident that with Jubilant�s strong operational expertise and Golden Harvest�s deep understanding of the Bangladesh market, we will be able to carve a strong position in the food services market in the country.�
According to Mr. Rajeeb Samdani, Managing Director of Golden Harvest Group, �We are excited to collaborate with Jubilant FoodWorks to bring the world renowned and iconic Domino�s Pizza brand to Bangladesh. Pizza is a growing food segment in the country as the consumers are opening up to more experimentation in food especially global cuisines. This partnership has a huge potential and with Jubilant FoodWorks� support we are confident that we would be able to deliver a great pizza experience to our customers in Bangladesh.�
Jubilant FoodWorks Limited, which is a master franchise holder of Domino�s Pizza and Dunkin� Donuts brands in India, has exclusive rights to develop and operate Domino�s Pizza brand in Sri Lanka, Bangladesh and Nepal as well.
Golden Harvest QSR Limited is a part of Golden Harvest Group of Bangladesh which is a diversified conglomerate and has interests in various sectors such as food, commodities, IT, logistics, real estate, dairy and insurance.
