MADRID, October 27, 2016 /PRNewswire/ --
The result of the master franchise agreement with the Al Bayan Holding Group, one of the country's largest business groups
- The openings form part of the company's growth strategy in the country, where it anticipates opening up a hundred stores over the next ten years
- Telepizza aims to become market leader for pizza delivery business in Saudi Arabia, whose market value in 2016 is estimated by Euromonitor to be 1.3 billion euros and has growth prospects of 6% over the next five years.
Telepizza announces the opening of its first three stores in Saudi Arabia, located in the country's capital, Riyadh.
The stores are the first of the hundred the company expects to open up in the country over the next ten years and are three of the five that will serve the public in Riyadh in the coming months. Subsequently, the brand will be present in the west (Jeddah) and the eastern areas of the country.
Telepizza's expansion into Saudi Arabia is the result of the master franchise agreement with its strategic partner in the region, Emtyaz Catering Company, the subsidiary company of the Al Bayan Holding Group and one of the country's principal business groups. It holds interests in a number of companies in sectors like food and drinks as well as the property development and construction market.
Telepizza's international strategy is focused on growth in markets where it is currently operating, exploring new business opportunities, and entering new markets, either organically, through acquisitions of local companies or via master franchises.
Currently, the company is present in 15 countries and its sales outside Spain exceed 30% of the total.
Telepizza operates in 15 countries with its own brand throughout Europe, Latin America and other geographies mostly through master franchise agreements. As of September 2016, the company has a network of 1,325 stores (454 own stores and 871 franchised and master franchised stores) and employs a vertically-integrated business model through seven dough production facilities.
In 2015, the Group recorded €491.8 million in chain sales and €57.7 million in EBITDA.
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