Subway inks largest master franchise deal with Everstone Group to expand presence in India
The agreement will see more than 2,000 new restaurants to open across India, Sri Lanka and Bangladesh in the next 10 years.
Subway announced significant expansion in India, Sri Lanka and Bangladesh, after the company signed a master franchise agreement with South Asia-focused private investment firm Everstone Group in what they tout as one of the largest master franchise agreements in QSR history.
The agreement will see more than 2,000 new restaurants to open across India, Sri Lanka and Bangladesh in the next 10 years.
The new restaurants — as well as existing locations — will adapt the company’s “Fresh Forward” design and feature delivery and order ahead options.
“Today’s announcement represents a significant step in Subway’s transformation journey and global expansion plans,” said John Chidsey, Chief Executive Officer of Subway. “Everstone, with extensive knowledge and proven restaurant operational expertise in the region, is the ideal partner as we begin this new chapter for Subway in India and South Asia.”
“Subway is an iconic brand and its philosophy of freshly made-to-order and better-for-you food delivered at-home and in-store is central to one of the greatest structural consumer trends we see in South Asia,” added Sameer Sain, Founder and CEO, Everstone Group. “Everstone Group is delighted to be a partner and custodian of Subway in the region. We strongly believe that our significant experience in the QSR space, our strong digital focus, our ability to innovate, as well as our proven execution capabilities, will enable Subway to become a dominant player in the region.”
