Jubilant FoodWorks has entered into a joint venture agreement with Golden Harvest QSR Ltd to launch Domino's Pizza in Bangladesh.
Jubilant FoodWorks is a master franchise holder of Domino's Pizza and Dunkin' Donuts brands in India. It also has exclusive rights to develop and operate Domino's Pizza brand in Sri Lanka, Bangladesh and Nepal.
The company will hold 51 per cent stake in the joint venture entity -- Jubilant Golden Harvest Ltd -- while Golden Harvest QSR Ltd, a part of the Golden Harvest Group, will own the remaining stake.
"As the eighth most populous country in the world with the highest population density and a young demographic, the Bangladesh market presents a great growth opportunity for Domino's," Jubilant FoodWorks Ltd CEO and Whole time Director Pratik Pota said.
Golden Harvest QSR Ltd is a part of diversified conglomerate Golden Harvest Group of Bangladesh which has interests in food, commodities, IT, logistics, real estate, dairy and insurance.
"Pizza is a growing food segment in the country as the consumers are opening up to more experimentation in food especially global cuisines," Golden Harvest Group Managing Director Rajeeb Samdani said.