Source - SMW
Domino's Pizza's German joint venture Daytona   is to acquire Hallo Pizza GmbH for €32m.

Domino's Pizza Group owns a one-third stake in Daytona JV Limited which operates the Domino's master franchise in Germany.

Hallo Pizza is the largest independent pizza chain in Germany with a national footprint of 170 franchise stores.

 Hallo Pizza generated network sales of €80.2 million and normalised EBITDA of €3.5 million for FY162.

Domino's Pizza said the acquisition would strengthen the German JV's market leading position and increase the store count in Germany from 209 to approximately 300-340 following brand conversions, accelerating progress towards its 1,000 store target. 

It said the transaction was expected to improve the profitability of former Hallo Pizza stores and existing Domino's stores for both franchisor and franchisees as stores are converted to Domino's and national advertising campaigns, social media initiatives and IT innovations are leveraged over the larger store network.