Reliance Retail to acquire Subway India for $200-250 million: Reports
Reliance Retail, the retail arm of Reliance Industries Ltd(RIL) is looking to buy Subway India for $200-250 million (Rs 1,488-1,860 crore).
Reportedly, Subway Inc India is on the radar of Reliance Retail, the retail arm of Reliance Industries Ltd(RIL). The retail company is looking to buy Subway India for $200-250 million (Rs 1,488-1,860 crore).
Subway Inc is under restructuring process globally, trying to cut costs and reduce headcount as sales are low. Reliance Retail has a range of segments from grocery, payments, e-pharmacy to fashion and furniture. It has the eyes on the quick service restaurants as reportedly it is cited that Reliance Retail will gain the network of approximately 600 Subway Inc stores across the country.
Reportedly, Subway was looking to streamline its Indian business with a local partner on the current model of regional franchisees and individual networks. Subway had tried to create a platform in 2017 and was also in talks for investors to buy-in.