The Carlyle Group Partners with Former Domino’s CEO Patrick Doyle
WASHINGTON, Sept. 04, 2019 (GLOBE NEWSWIRE) -- The Carlyle Group (NASDAQ: CG) today announced a with Patrick Doyle, the former Domino’s Pizza President & CEO, to acquire established companies that have the opportunity for value creation and revenue growth through technological transformation.
The partnership will initially focus on public and private companies with established brands, proven business models and an enterprise value of up to $10 billion, as well as family businesses that can benefit from Carlyle’s resources and expertise. Carlyle and Mr. Doyle will source opportunities internationally across sectors, and will initially put an emphasis on the consumer and retail sectors in North America and Europe.
As an Executive Partner, Mr. Doyle is working with Jay Sammons, Carlyle’s Head of Global Consumer, Media & Retail. The two bring a unique view and focus on the convergence of consumer products, retail channels and forms of media that influence consumer behavior. Together they will leverage the resources of Carlyle’s global investment platform and deep expertise across industries. Additionally, Patrick will contribute personal capital to each acquisition.
“Patrick Doyle has a proven track record in driving revenue growth, brand recognition and shareholder returns through technological transformation,” said Kewsong Lee, Carlyle Co-Chief Executive Officer. “We see untapped opportunity to work with established, proven businesses who want to do the same.”
Mr. Doyle said, “Carlyle was the natural partner for this initiative, given their extensive global investment resources, unparalleled private equity expertise and holistic approach to value creation. Carlyle has a team of exceptionally talented people who recognize the opportunity to drive growth in companies through technology and advanced analytics. We believe this partnership will deliver meaningful returns and are eager to engage with companies that fit the strategy.”
“We are looking for established companies that consider technological and digital improvement a top priority but haven’t yet had the adequate resources or expertise to pursue this evolution of their businesses,” said Sammons. “These companies will be our partners, working collaboratively to identify and harness the greatest opportunities, and then implementing the right teams, structures and systems to evolve their businesses and ultimately drive growth and value creation.”
Mr. Doyle, age 56, served as CEO and President of Domino’s for almost a decade and joined the company in 1997. During his tenure as CEO, he transformed the brand by investing heavily in digital technology and prioritizing both consumer experience and shareholder return. Under his leadership, the company generated one of the highest shareholder returns in the market; he increased its share price more than 2,100% while returning $3.4 billion to shareholders. The company also doubled its market share to become the top pizza company in the world based on global retail sales. He serves as the Lead Director on the board for Best Buy Co., Inc. and has served on the board of G&K Services, Inc. and Business Leaders for Michigan. He holds an MBA from the University of Chicago and an economics degree from the University of Michigan.
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About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $223 billion of assets under management as of June 30, 2019, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,775 people in 33 offices across six continents.
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Contacts Leigh Farris +1 (212) 813 4815 Brittany Berliner +1 (212) 813 4839
