Domino’s Pizza Plans Public Offering
Domino’s Pizza Inc. on Tuesday said it planned to go public, setting itself up to cash in on recent investor enthusiasm for restaurant stocks.
Domino’s, based in Ann Arbor, Mich., said it planned to sell as much as $300 million in common stock. Details of how many shares the company plans to offer and an estimated price per share are expected in future filings with the Securities and Exchange Commission.
Private equity firm Bain Capital controls 49% of Domino’s. Bain acquired its stake in 1998, when company founder Thomas Monaghan retired. He still holds a 27% stake.
In 2003, Domino’s franchise stores posted sales of about $3.8 billion. Its company-owned stores had $381 million in sales.
The recent strong performance of some restaurant stocks could bode well for a Domino’s offering, said Malcolm Knapp, president of restaurant research firm Malcolm Knapp Inc.
Domino’s operates more than 7,400 take-out and delivery stores, including franchises, in the United States and abroad.
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