Domino’s adds German pizza business to portfolio

Sarah Stowe

Domino's is buying the German chain Joey's Pizza. Image: reutersmedia.netDomino’s is set to acquire Germany’s largest chain of pizza stores.

The Australian pizza business plans to acquire all 212 Joey’s Pizza outlets for $120m from the UK-listed Domino’s Pizza Group PLC.

The UK business is the master franchisee for Germany, Ireland, Switzerland and the UK.

The acquisition will take the form of a joint venture with Domino’s Pizza Group, with Domino’s Pizza Enterprises holding a two-thirds stake.

Domino’s CEO Don Meij said “Germany is the fourth largest pizza market in the world and our entry into this market represents an exciting long term growth opportunity for Domino’s.”

Earlier this year Domino’s Pizza Enterprise bought a French chain of 89 pizza outlets.