Bain Capital said on Tuesday it had agreed to sell 75% of Domino’s Pizza Japan for Y12 billion $123 million after revamping the company to suit a more budget conscious Japan.
When Bain first bought the chain in 2010 it catered for special occasions, creating outlandish pizzas at a high price with toppings such as foie gras.
One example was a multi-course meal on a pizza where one slice was a lobster appetizer, another a roast chicken entrée and desert was a slice with a whipped cream and berry topping. Such extravagant piazzas cost between $35 and $45 each.
“We thought that...