Subway has signed one of the largest development deals ever in the quick-service restaurant industry.
The sandwich chain has entered into a new master franchise agreement with Shanghai Fu-Rui-Shi Corporate Development Co., Ltd. to expand its presence in mainland China. The agreement — funded by a consortium of private investors that includes Asia Investment Capital (AIC) — includes the opening of nearly 4,000 restaurants during the next 20 years. It is the largest master franchise agreement in Subway history.
Under the terms of the agreement, Fu-Rui-Shi will also acquire the exclusive rights to manage and develop all Subway locations in mainland China. The group will also appoint a chief executive officer with significant QSR experience in the Chinese market.ChainStoreAge