(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.
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Reporting by Rahul B in Bengaluru; Editing by Amrutha Gayathri