RIL in talks to buy Subway India franchise for up to $250 mln. Reliance Industries Ltd is in talks to acquire American quick-service restaurant operator Subway Inc's franchise in India for $200 mln-$250 mln, The Economic Times reported today.
Subway's business in India is run through several regional master franchisees.
Globally, the company is undergoing a restructuring exercise that involves shifting of headquarters, and slashing costs and global headcount amid falling sales, warring franchisees, and growing speculation of a worldwide takeover, the report said.
If the talks are successful, it will help RIL diversify its retail business through omni-channel initiatives. Reliance Retail will own a network of 600-odd Subway stores across India.
The entry would also intensify competition in the country's organised quick-service restaurant market, which includes global brands such as Domino's Pizza, Burger King, Pizza Hut, Starbucks, and their local partners such as the Tata Group and Jubilant FoodWorks.
Source : Eureka
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