As part of a policy of worldwide expansion, fastfood chain Telepizza has today (15 September) announced its intention to open 50 stores in Greece by 2005. The franchised outlets will operate under the name Telepizza Grecia. The move is the result of a joint venture with fastfood market pioneer Goody’s. Spanish Telepizza will control the larger, 60%, stake in the new company and gather 50% of the payments from, and sales by, the franchises. The first stores will open throughout the first quarter of next year, to be located in Athens, Thessalonica and Salonica, in Northern Greece.

Goody’s is the leading fastfood chain in Greece. Last year, sales reached €156.26m and it also operates in Portugal, Cyprus, Bulgaria. It has been revealed that Telepizza Grecia is also considering possibilities for expansion in the latter two countries.

The announcement is seen as part of a strategic expansion programme: Telepizza has revealed its intention to open a further 437 stores by 2003, each in countries which as yet have not been reached. The company already operates 292 outlets in Poland, Chile, Mexico, Morocco, the UK and France, and these countries will soon see the opening of another 202 Telepizza stores.