A Taste for Growth

Taste Holdings has been making waves with the recent introduction of American pizza chain Domino’s and is geared up for growth, having raised R94 million after issuing new shares.

A Taste for Growth

The holding company, which also has Scooters Pizza, St Elmo’s and Maxi’s in its stable, will be using the proceeds to establish 25 new corporate-owned Domino’s Pizza outlets by the end of August.

At least 30 additional franchised Domino’s stores are expected to be created by the same date. Taste launched its first six Domino’s Pizza outlets between October and December 2014.

Gems and pizza slices

Not all of the proceeds are set to go to opening new pizza stores, the capital injection has seen a dough production facility in Cape Town established earlier than planned, and will also be used to help replenish cash used to acquire jewellery retailer Arthur Kaplan in November 2014, which has exceeded expectations to the extent that an additional R10 million will be added to the agreed R20 million earn-out set in the purchase agreement.

R69,8 million was raised through subscription shares to new and existing public investors, while R25 million was raised by issuing shares to Brimstone Investment.

Tracy Lee Nicol
About the Author
Tracy-Lee Nicol is the managing editor of Franchise Zone Magazine and deputy editor of Entrepreneur Magazine. She studied her Masters degree in Art History and Visual Culture at Rhodes University and spent the next two years working and travelling in Asia. Her love of people, business and teaching is reflected in telling the stories of entrepreneurs, franchisees and franchisors, inspiring others to take the leap to being their own boss and bringing about positive change in South Africa.

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