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Bain Capital To Buy Domino's Pizza Master Franchisee Higa Industries In Japan - Update

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

Monday, Private investment firm Bain Capital, LLC said it has signed a deal to buy Higa Industries Co., Ltd., the master franchisee of Domino's Pizza, Inc. (DPZ) in Japan. Financial terms of the transaction were not disclosed.

Boston-based Bain Capital said it would acquire Higa Industries from its founder and Chief Executive Officer Ernest Higa, and also from other two shareholders, Duskin Co., Ltd., and Daiwa SMBC Capital. Bain Capital has received committed financing for the deal from the Bank of Tokyo Mitsubishi UFJ. Bain Capital said the transaction is expected to close in early February.

Tokyo, Japan-based Higa Industries, founded in 1964, currently operates 179 franchised Domino's Pizza stores in Japan. In March 2009, the company reported sales of 17.2 billion yen.

Yuji Sugimoto, managing director at Bain Capital, said, "We look forward to working with the Higa Industries team to support the continued growth of Domino's Pizza in Japan and further strengthen its competitive edge."

Bain Capital, which owns a minority stake in Domino's Pizza, established offices in Tokyo in 2006 and has a team of 20 investment and operations professionals in Japan to pursue investment opportunities and work with its portfolio companies. Recently, Bain Capital has acquired Japanese call center operator Bellsystem24, Inc, for US$1 billion from Citigroup, Inc. (C).

DPZ closed Friday's regular trading at $11.07 per share on the New York Stock Exchange.

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