Domino's Pizza buys leasing business

2nd Jul 2009 07:21

Pizza delivery outfit Domino's Pizza has purchased an equipment leasing business from Dresdner Kleinwort Leasing.Domino’s is acquiring the entire issued share capital of Dresdner Kleinwort Leasing March (2) for an initial consideration of £26,007, with a deferred consideration of up to £15m due depending on certain conditions. The deferred consideration will be paid from January 2011 until 2016.The acquired company brings with it available tax relief of £29m which will be available to Domino once March (2) becomes part of the Domino group.For the period 1 January 2009 to 1 July 2009, March (2) made a profit before tax of £0.11m. As at 30 June 2009, March (2) had gross assets of £6.15m and net assets of £26,007.