Domino’s Pizza Group(DPG) has announced this morning that it has entered into a partnership with its largest franchisee in London.

DPG has agreed to pay £24m for a 75% stake in a newly formed company whose assets will consist of all the franchisee’s operations which comprise 25 existing Domino’s stores in London.

The company said that the creation of the new partnership would allow it to take advantage of the “significant growth opportunity in the London area”.

The transaction is subject to final contract, with completion expected in September 2017.