Domino's Pizza acquires Hallo Pizza Chain
Domino's Pizza has acquired Hallo Pizza, the largest independent pizza chain in Germany. With acquisition of Hallo Pizza, Domino’s has become the largest pizza chain in Germany with more than 370 stores across the country. Domino's Pizza already has 209 stores operating in Germany. Hallo Pizza operates 170 stores at the moment. With the acquisition, Domino's Pizza would reach above 370 pizza outlets in Germany.
Domino’s CEO Don Meij confirmed the deal and informed that the company plans to increase its outlets to 1,000 in near future. Domino’s holds leadership position in Pizza home delivery segment. Domino’s acquired Hallo Pizza for 32 million euros. Mr. Meij informed, “We are excited to share our innovations with Hallo Pizza franchisees to drive the customer experience and higher sales under the Domino’s system.”
After the news, Domino's Pizza stock was trading stronger by 3 percent. Domino’s has expanded its reach in Europe and the company has managed to generate stronger sales in the recent quarters. The company reported profit after tax of $118 million registering an increase of 28 percent.
CallaPizza remains the second biggest chain in Germany with 104 stores.
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