October 19, 2017 / 6:36 AM / in a year

Domino's German JV to buy independent chain Hallo Pizza

(Reuters) - Domino’s Pizza Group Plc (DOM.L) said its German joint venture, in which it owns a third of the stake, would buy Germany’s largest independent pizza chain, Hallo Pizza, to expand its business in the country.

The Domino's logo is seen in Golden, Colorado United States July 25, 2017. REUTERS/Rick Wilking

Domino’s Pizza, a master franchisee of U.S.-based Domino’s Pizza Inc (DPZ.N), said the deal worth 32 million euros ($37.8 million) on a cash-and-debt-free basis, would add Hallo’s 170 stores to its business.

The transaction is expected to close in the first quarter of 2018, Britain’s biggest pizza delivery firm said on Thursday.

($1 = 0.8472 euros)

Reporting by Rahul B in Bengaluru; Editing by Amrutha Gayathri

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