Jubilant Foodworks Ltd on Tuesday said it plans to acquire an additional 51.16 per cent stake in DP Eurasia NV, the exclusive master franchisee of the Domino’s Pizza brand in Turkey, Azerbaijan and Georgia, through a subsidiary for a consideration of up to euro 73.36 million (nearly Rs 670 crore).

Jubilant Foodworks Netherlands B.V (JFN), the company’s wholly-owned arm holds 48.84 per cent ordinary shares of DP Eurasia — which is the largest pizza delivery company in Turkey, Jubilant Foodworks Ltd (JFL) said in a regulatory filing.

JFN proposes to acquire, through any permissible mode including open offer, market purchase, the entire issued and outstanding ordinary share capital of DP Eurasia NV not already held by it at a price of up to 85 pence per share from existing shareholders of DP Eurasia, the filing added.

“Aggregate purchase consideration shall be up to EUR 73.36 million approximately,” it said, adding it would be an all-cash consideration.

DP Eurasia, together with its subsidiaries, offers pizza delivery and takeaway/eat-in facilities at its 694 stores — 678 in Turkey, 10 in Azerbaijan and 6 in Georgia — JFL said, adding it operates an asset-light, scalable business through franchised stores contributing 88 per cent to the overall stores.

“It is the largest pizza delivery company in Turkey. The group also has its own coffee brand, COFFY,” the filing said.

For funding the acquisition, JFN would be using a combination of the existing term-loan facility availed from HSBC, which is backed by corporate guarantee issued by JFL and avail a new long-term facility from HSBC.