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

Domino's German JV to buy independent chain Hallo Pizza

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

(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.

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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