Jubilant Foodworks Limited has informed the Exchange about Update on sale of entire stake by Fidesrus B.V. in Pizza Restaurants LLC
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Jubilant Foodworks has confirmed that its step-down subsidiary Fidesrus B.V. has completed the sale of its full 100% stake in Pizza Restaurants LLC, a Russia-based wholly-owned subsidiary. The transfer was completed on July 10, 2025, as confirmed by an extract from the Russian Trade Registrar. Following this transaction, Pizza Restaurants LLC has ceased to be a step-down subsidiary of the company. This is an update to earlier intimation dates of April 30, 2025 and May 30, 2025 regarding the same transaction.
This marks JFL's full exit from the Russian market, allowing the company to focus entirely on its core India and other growth markets (like Domino's). Shareholders may view this positively as it removes a geography that has been challenging due to geopolitical issues, potentially simplifying operations and improving profitability margins going forward.