Domino's Pizza Israel emerges from bankruptcy, cuts prices

June 30, 2004

JERUSALEM—Three months after rescuing Domino's Pizza from bankruptcy, new owners Assaf Greenberg, Yossi Elbaz and Danny Gold have the chain back in business and with lower pizza prices.

"Domino's Pizza is considered expensive," Greenberg told Haaretz Daily. The chain has cut prices overall about 15 percent, with meat-topped pizzas selling for NIS 70 (U.S. $14.35), down from NIS 85 (U.S. $17.42). "The company is leaner and more in tune; head office has been reduced and therefore so have our costs, and there are no bank debts."

The chain will continue to focus on delivery, which accounts for more than 85 percent of its revenue. Greenberg said he'd like to see the company reach a 45 percent market share.

The pizza market in Israel is estimated to be worth NIS 400 million to 450 million (U.S. $82 million to $92 million) a year.

Topics: Domino's Pizza

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