Spanish Telepizza gangs up with Shanghai foods maker Christine

Shanghai Christine Food Co. Ltd. signed a cooperative contract with Spain's biggest pizza company Telepizza to build a joint venture (JV) in China, announced the Spanish company Monday.

The two sides will go halves on the JV, which will ultimately act as an independent firm and lay out chain stores in China.

''This is Telepizza's first JV in Asia,'' said Pablo Juantegui, CEO of Telepizza.

''Customers now can buy our pizza from Christine's stores in Xujiahui, the expo site in Pudong and near the Oriental Pearl TV Tower,'' said Luo Tianan, chairman of Christine.

The total investment on the JV has not been announced by either side.

Source: Global Times