Dodo Brands has relocated its parent company to Astana

The company relocated while retaining its legal entity status, ownership structure, and obligations to shareholders. In the AIFC, Dodo is registered under the name DP Global Group Limited, with its primary activity listed as holding asset management. Among the company’s shareholders are brand founder Fyodor Ovchinnikov and over 350 minority investors.

The move is a logical step in the company’s strategy to re-register in a jurisdiction more aligned with the current geopolitical and legal landscape. Dodo Brands’ intention to shift from the offshore jurisdiction of the British Virgin Islands to the AIFC was first announced in January 2024. At the time, the decision was contingent on receiving approval from the majority of shareholders.

In a May 2024 interview with Forbes Kazakhstan, Ovchinnikov explained that the choice of BVI was historically driven: “We needed an affordable jurisdiction at the time to attract a large number of small-scale investors.” However, he emphasized that the structure was not used for tax avoidance. “In the current situation, this jurisdiction is considered unfriendly toward Russia, and we are relocating our head office to Kazakhstan,” the entrepreneur stated.

The company is actively expanding in Central Asia. Dodo Brands has operated in Kazakhstan since 2015, starting with a franchised pizzeria in Kaskelen, followed by one in Almaty. Today, there are over 100 pizzerias and 14 Drinkit coffee shops across the country. The brand also operates 33 pizzerias in Uzbekistan, Kyrgyzstan, and Tajikistan.

Globally, the chain spans 26 countries across the Middle East, Europe, Africa, and Southeast Asia, with a total of over 1,400 locations. In 2024, Dodo Brands’ revenue exceeded $1 billion.