He also became an outspoken abortion opponent, which resulted in a nationwide boycott of Domino's by the National Organization for Women. In 1989 he took a hiatus from the business for 2 1/2 years to devote himself to Roman Catholic philanthropy.Ī devoted Catholic, he supervised the construction of a cathedral in Nicaragua, built a mission in Honduras, and founded a group of 450 Catholic chief executives who travel to places of Catholic interest.ĭuring his time off, he sold most of his riches, prompted by his reading of the book "Mere Christianity" by C. Monaghan has made several attempts to sell parts of the business over the years, and had asked $1 billion for it in the early 1990s. Monaghan renamed the store Domino's Pizza in 1965, and opened the first franchise in 1967. James later traded his share of the business for a Volkswagen Beetle. The company was founded in 1960 when Monaghan and his brother James borrowed $900 to buy DomiNick's, a pizza store in Ypsilanti. He felt very comfortable that Bain would come to know the business very well and leave management to the experts." "He wanted a high-quality financial investor who was interested in owning the company, not operating it. "Tom was looking to retire, but he was looking for something very specific," McIntyre said. Monaghan will step down as chief executive but will remain on the board of directors, said Domino's spokesman Tim McIntyre. Kyle Potvin, a spokeswoman for Bain Capital, said Bain will run the company, and Monaghan will not be involved in day-to-day operations. One of Bain's managing directors is Mitt Romney, the son of former Michigan governor George Romney. Monaghan, who owned more than 90 percent of Domino's, is selling nearly his entire stake to Bain Capital Inc., which manages more than $4 billion. It has about 6,100 stores, 4,400 of them in the United States. "At the age of 61, reflecting on my life and the goals I have yet to fulfill, I have decided to retire from active involvement in Domino's Pizza and devote more time to my charitable endeavors," Monaghan said in a statement.ĭomino's is second only to Pizza Hut in the United States. The purchase price for the nation's second-biggest pizza chain was not disclosed. Restaurants and other eating places: average annual pay in the U.S.Domino's Pizza founder Tom Monaghan said today that he is retiring and selling practically the entire company to a Massachusetts investment firm so that he can devote his time to charity. Share of quick service restaurants with a drive-thru in Canada 2014 Number of Pizza Hut restaurants in China by mode of operation 2016-2022 Number of YUM China restaurants in China 2022, by brand Number of new Yum China restaurants 2019-2022, by brand Comparatively, Domino’s Pizza reported a global revenue of around 4.54 billion U.S. During that year, the pizza chain remained a key player in the global pizza market, with an annual revenue exceeding one billion U.S. Pizza Hut ranked as one of the most valuable fast food brands worldwide in 2021, positioned not far behind Domino’s Pizza.
Pizza Hut watchful of Domino’s effect on pizza market With around 19 thousand restaurants globally, Pizza Hut had a greater number of stores worldwide than competitors such as Papa Johns and Domino’s Pizza. Yum! Brands had over 55 thousand units worldwide in 2022, with Pizza Hut operating the second-most restaurants behind KFC. Pizza Hut is owned by Yum! Brands, a parent company that also operates leading quick service restaurants KFC and Taco Bell. Pizza Hut delivers more restaurants than rivals
Pizza Hut saw a drop in number of restaurants worldwide in 2020 most likely as a result of the coronavirus (COVID-19) pandemic. The ten percent rise in the number of restaurants between 20 was the largest year-on-year increase in recent years.
In 2022, Pizza Hut accounted for 19,034 restaurants worldwide, an increase over the previous year's total of 18,381.
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