Domino's Pizza up for grabs today
Six groups are believed to be interested in buying Domino's Pizza. Proposals for the acquisition of the chain have to be submitted by 2 P.M. today to advocate Ronen Matri.
Six groups are believed to be interested in buying Domino's Pizza. Proposals for the acquisition of the chain have to be submitted by 2 P.M. today to advocate Ronen Matri, the official receiver for Omni Food Brands, which holds the Domino's Pizza franchise in Israel.
Ilan Oren, the former CEO of iMesh, and two other people from the high-tech world have formed a group that is bidding for the chain. Another bidder is an American group, headed by Ami Ben-Dor, former deputy director of marketing for Omni during the period 1995-2000 and director of Omni's felafel chain.
The Sbarro chain is also considering submitting a bid, but informed sources say it is highly unlikely that Domino's will allow another pizza chain to take over its franchise in Israel since they are in direct competition.
Oren said yesterday: "We believe that it is possible to pull Domino's out of deep waters. The problem with Domino's Pizza was that the management was wasteful, like the start-ups of three years ago."
Oren said he was aware that it would not be a simple matter to run Domino's. "There is a cost factor because they are competing against the local pizza parlors. The pizza cannot be more expensive and the cost of the delivery has to be figured in."
Oren said he did not believe it was a problem that his group had no previous experience in the food business. They had experience running firms in troubled times, he said, because they managed with start-ups after the high-tech bubble burst.
About a month ago, Matri published a statement saying he believed he could sell the company for some NIS 20 million. People close to the business said, however, that they believed it would go for less.