Domino's: NI brothers sell their slice of pizza franchise for 拢62m
- Published
Two Northern Ireland brothers have sold their Domino's pizza franchise for 拢62m.
Charles and Adrian Caldwell are majority owners of Shorecal Ltd which operates 34 of the 99 Domino's stores across the Republic of Ireland and Northern Ireland.
The business is being bought by Domino's Pizza Group (DPG) in a strategy to grow the brand in Ireland.
In 2019, DPG paid 12.5m euro for a 15% stake in Shorecal.
The Caldwells had also previously sold about a third of the business to the wealthy Canadian/US Bronfman family.
Growth plan
Charles Caldwell said: "Adrian and I are proud to have grown Shorecal over the years to create a strong business, delivering great products to customers across Ireland.
"We are delighted that DPG and the Shorecal team, led by chief executive George Bertram, will take the business forward and continue delivering outstanding service to our customers."
DPG, which is listed on the London stock exchange, said the purchase was the first part of a growth plan.
Andrew Rennie, DPG chief executive, said: "We believe there is a significant opportunity for us in Ireland and we are now in an even stronger position to accelerate our growth, open new stores, and provide great service and great tasting products to our customers.
"I would like to personally thank Charles and Adrian Caldwell for all they have done to build the Domino's brand in the Republic of Ireland and Northern Ireland."