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Jubilant FoodWorks enters Bangladesh market through joint venture


Devdiscourse News Desk kolkata India
Updated: 15-03-2019 23:00 IST
Jubilant FoodWorks enters Bangladesh market through joint venture

The company did not elaborate on financial details of the JV arrangement. Part of the Jubilant Bhartia group as on December 2018, the JFL operates a network of 1,200 Domino's Pizza restaurants across 271 cities.

Jubilant FoodWorks Limited (JFL) which owns Domino's Pizza chain in India, Friday said it entered Bangladesh through a joint venture with a local partner. A joint venture company Jubilant Golden Harvest Limited is formed between JFL and Golden Harvest QSR Limited, a part of Bangladesh based Golden Harvest Group, to set up stores in Bangladesh.

For Jubilant, this is the second overseas market in the neighbouring country after Sri Lanka. Jubilant & its subsidiary have the exclusive rights to develop and operate Domino's Pizza brand in India, Sri Lanka, Bangladesh and Nepal. "Bangladesh is a key strategic market for us with immense potential for growth in the foodservice sector. We are delighted to launch Domino's Pizza in the country in partnership with Golden Harvest and are confident that this will go on to win consumer acceptance and become a successful business in Bangladesh," JFL chairman Shyam S Bhartia said in a statement.

The company did not elaborate on financial details of the JV arrangement. Part of the Jubilant Bhartia group as on December 2018, the JFL operates a network of 1,200 Domino's Pizza restaurants across 271 cities.

(With inputs from agencies.)

COUNTRY : India

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