Domino?s Pizza (ASX:DMP) has commenced an equity capital raising for up to $165M, with an institutional placement to raise $150M, and a share purchase plan to raise a further $15M.

Domino?s says the money will be used to fund the option exercise price for the acquisition of all the shares it holds in the German joint venture, and any surplus will be for debt retirement.

Group CEO and Managing Director Don Meij says completion of the purchase and payment of the option exercise price is expected to occur in the first half of 2023:

?We are excited about increasing our ownership in Domino?s Pizza Germany, which has been an objective of ours since entering the market. Germany offers strong long-term growth prospects for our business.?