Domino's Pizza Refranchises 30 Atlanta-Area Stores
ANN ARBOR, Mich., Aug. 29, 2011 /PRNewswire via COMTEX/ --
Domino's Pizza (NYSE: DPZ), the recognized world leader in pizza delivery, today announced that it has refranchised 30 company-owned stores in Atlanta to four local owner-operators. The change of ownership took place today.
"We're primarily a franchise company, and we see strength in our locally-owned operations," said Scott Hinshaw, Domino's Pizza executive vice president of franchise operations and development. "There are terrific, proven operators in Atlanta, and this is an opportunity for them to grow. Local, hands-on leadership is crucial to our success worldwide, and Atlanta is an important market for us. We're looking forward to these great operators taking their expertise and applying it in these stores."
Franchisee Mike Orcutt (who led U.S. store operations for Domino's Pizza in the 1990s), has purchased 14 stores, bringing his ownership total to 93 stores, making Orcutt the second-largest Domino's Pizza franchise owner in the United States. He owns stores in Georgia, Alabama and South Carolina.
Franchisee Greg Fox has purchased nine stores, bringing his total to 38 stores. Franchisee Todd Dyrda has purchased five stores, bringing his total to seven stores. Tim Garrett, formerly a supervisor for Orcutt's Cowabunga Pizza Inc., is now a two-store franchisee owner-operator with his purchase.
The Atlanta area is home to 118 Domino's Pizza stores, and has for years featured a mix of franchisee and company ownership. Of the original 40 company-owned stores, eight of the remaining are currently being run by Domino's Pizza with plans to potentially sell to qualified franchisees at a later date and two (in Hiram and Hampton, Georgia) have been closed. The new owners have hired or offered positions to the existing team members at the stores.
About Domino's Pizza®
Founded in 1960, Domino's Pizza is the recognized world leader in pizza delivery. Domino's is listed on the NYSE under the symbol "DPZ." As of the second quarter of 2011, through its primarily locally-owned and operated franchised system, Domino's operated a network of 9,436 franchised and Company-owned stores in the United States and over 70 international markets. During the second quarter of 2011, Domino's had global retail sales of over $1.6 billion, comprised of nearly $793 million domestically and over $810 million internationally. Domino's Pizza had global retail sales of over $6.2 billion in 2010, comprised of over $3.3 billion domestically and over $2.9 billion internationally.
In May 2011, Pizza Today named Domino's its "Chain of the Year" for the second straight year - making the company a three-time overall winner, and the first pizza delivery company to receive the honor in back-to-back years. In 2011, Domino's was ranked #1 in Forbes Magazine's "Top 20 Franchises for the Money" list. Helped by the launch of its Domino's Smart Slice school lunch pizza in late 2010, Domino's is collaborating with the Alliance for a Healthier Generation to serve healthier school foods and beverages in the United States. In late 2009, Domino's debuted its "Inspired New Pizza" - a permanent change to its hand-tossed product, reinvented from the crust up.
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