Owners of Domino's Pizza and Dunkin' Donuts chains in India, Jubilant FoodWorks, on Tuesday announced that it has formed a wholly owned subsidiary in the Netherlands to explore business opportunities in the food service industry in the European country.
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"Jubilant Foodworks Ltd has incorporated a wholly owned subsidiary company "Jubilant Foodworks Netherlands B.V." on February 15, 2021. (It has been) incorporated as a wholly owned subsidiary of the company for exploring business opportunities," said Jubilant in a regulatory filing.
However, it did not share more details about the new venture.
Jubilant also started Chinese cuisine restaurant Hong's Kitchen and biryani restaurant Ekdum! Biryani.
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In December 2020, it also acquired 10.76 per cent equity stake in Barbeque-Nation Hospitality Ltd for Rs 92 crore.
Jubilant FoodWorks reported a 21.71 per cent increase in consolidated profit at Rs 123.91 crore in the third quarter ended December 2020.
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ZomatoHe added that earlier large orders were handled by multiple delivery partners and the customer experience was not what the company aspired for.
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