RIYADH: Subway, one of the world’s largest restaurant brands, and Fawaz Abdulaziz Alhokair Co, a leading franchise retailer in Saudi Arabia, signed a new master franchise agreement to expand into the Kingdom.
The new agreement will nearly double Subway’s footprint of 210 restaurants over the next six years by adding a minimum of 145 new locations, Alhokair said in a filing.
“Today’s announcement is another example of our refreshed approach to international growth,” said John Chidsey, Chief Executive Officer of Subway, in a statement. “Through partnering with companies that have deep regional knowledge and proven success in the industry, such as Alhokair, we are strategically expanding and strengthening our global footprint around the world.”