Mitra Adiperkasa, Indonesia’s leading lifestyle retailer, will team up with Singaporean private equity firm Everstone Capital to manage its Domino’s Pizza franchise. Better known as MAP, the listed retailer announced it will share ownership of the restaurant chain by maintaining 49 percent of its stake. “We’re al
Mitra Adiperkasa, Indonesia's leading lifestyle retailer, will team up with Singaporean private equity firm Everstone Capital to manage its Domino's Pizza franchise.
Better known as MAP, the listed retailer announced it will share ownership of the restaurant chain by maintaining 49 percent of its stake.
“We're also actively communicating with other equity firms for a similar deal for Burger King,” said Virendra Prakash Sharma, vice president director at MAP, during the company's public presentation in Jakarta on Monday.
Managing businesses in the food and beverage sector generally requires more expenses compared to fashion and sports, according to Virendra. Forming the strategic partnership, he added, will boost Domino's and Burger King's growth to their fullest potential.
“Like Kentucky Fried Chicken or McDonald's, for example. The companies are focused on one brand,” Sharma added.
MAP distributes and sells a range of international lifestyle brands in various sectors, including food and beverage, sports, fashion, and other specialty stores.
Zara, Starbucks and Burger King are only a few of the world-class brands sold by MAP in Indonesia.
The company currently owns 60 Domino's Pizza branches and 48 Burger King restaurants across the nation.
Food and beverages made up roughly 13 percent of MAP's total sales last year.
The retail giant has set aside Rp 600 billion ($52.2 million) for this year's capital expenditure, most of which will be allocated for the addition of 250 new stores across the country.
“This year, we want to consolidate and strengthen our backbone. There won't be as much expansion as last year,” said Sharma.