Sphinx to buy 40% stake in Dominium pizza chain for PLN 20 mln

WSE-listed restaurant operator Sphinx has purchased 40 percent shares in the restaurant chain Dominium for PLN 20 million, the company said in a market filing. The deal is expected to be finalized by the end of the year pending regulatory approval and due diligence process. Dominium owns over 70 pizza restaurants under the Gusto Dominium brand in various Polish cities. “We assume that thanks to close cooperation between two strong Polish brands, we will be able to achieve a number of benefits resulting from synergies in purchasing and sales, we assume that both companies will benefit from knowledge exchange on loyalty systems, delivery, research, development or management,” said Sphinx CEO Sylwester Cacek. The agreement also provides conditions for a possible exit or takeover of the control package by the Sphinx in the Dominium under the shoot-out procedure, as well. It also assumes that Dominium will debut on the WSE within the next seven years.