Portfolio

Domino’s Pizza, Inc. (2011-2012)

Domino’s Pizza (“Domino’s”) is one of the world leaders in pizza delivery, operating a network of company-owned and franchise-owned stores in the U.S. and in international markets.

Trian became the company’s largest shareholder and filed a Schedule 13G with the SEC in May 2011. Trian believed there was a value opportunity at Domino’s due to its leading market position in domestic pizza delivery, franchised business model, and underappreciated international business. Trian met with management in 2011 and early 2012, during which time management presented an overview of its strategic, operating, and financial strategies.

In 2011, Domino’s domestic business generated strong sales growth driven by core menu innovation, marketing, and an investment in digital initiatives. The company grew its store base to a company record in 2011, and repurchased $165 million of its stock. In March 2012, the company completed a full recapitalization.

Following Domino’s successful execution of its plan in 2011 and early 2012, Trian exited its investment in May 2012.

Sector: Consumer

Company Website: https://www.dominos.com/en/