Jubilant Foodworks share hit all time high in early trade today after the firm said it was all set to fully acquire Netherlands-based Fides Food Systems Cooperatief U.A. via its wholly-owned subsidiary-Jubilant Foodworks Netherlands B.V.
Share of Jubilant Foodworks rose 4.47% to a fresh high of Rs 3082.9 on BSE. The stock has gained 10.29% in the last 6 days. Jubilant Foodworks share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
In a year, the large cap stock has gained 63.44% and risen 10.26% since the beginning of this year. Market cap of the firm rose to Rs 40,620 crore. The company will make an investment of approximately GBP 24.80 million (about Rs 250 crore) for the acquisition.
After the buyout, Jubilant Foodworks Limited will indirectly hold 32.81 percent shares in DP Eurasia, it said in a regulatory filing.
"We wish to inform that Jubilant Foodworks Netherlands B.V., wholly-owned subsidiary of the Company, has entered into a purchase agreement with Turkish Private Equity Fund II L.P. to fully acquire Fides Food Systems Cooperatief U.A. which holds 32.81% equity shares in DP Eurasia N.V. ("DP Eurasia") ("Purchase Agreement"). Jubilant FoodWorks Limited ("Company") has also executed the Purchase Agreement as guarantor in connection with the investment obligations of Jubilant FoodWorks Netherlands B.V.," the JV press release said.
As of December 31, 2020, Jubilant FoodWorks Ltd operated 1,314 Domino's Pizza restaurants, 27 Dunkin' Donuts restaurants.