(Reuters) - Domino's Pizza Group Plc (>> Domino's Pizza Group PLC.) 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 (>> Domino's Pizza, Inc.), 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)

Stocks treated in this article : Domino's Pizza, Inc., Domino's Pizza Group PLC.