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Ambani backed Reliance Retail in talks to buy Subway India: Report

According to the latest reports, Mukesh Ambani backed Reliance Retail is in talks to take over Subway India's franchises. If the company manages to purchase the food chain giant, RIL will overtake around 600 Subway stores based in India

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Mukesh Ambani backed Reliance Retail is currently making headlines for the reports of eyeing on the Subway India’s franchises. According to the latest reports, the company is currently in talks to buy over 600 Subway stores. Reportedly, the deal is valued between Rs. 1,488 crores- Rs. 1,860 crores. Subways top competitor food giants include Domino’s, Starbucks, Burger King, McDonalds and a few others.

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Ambani’s backed Reliance Company has ventured into many different sectors such as digital, lifestyle, grocery, jewelleries, electronics and others. While it is not officially announced, a latest report by Times Of India suggests that RIL is in talks to buy Subway India stores for the above mentioned whopping price. If the reports comes out to be true and if Reliance manages to take over 600 Subway stores in India, then company will venture into food chain sector as well. The food industry in recent few years has seen an expected boom.

According to the reports, Subway is currently undergoing for a re-structuring process because its sales have been massively hit due to the pandemic Coronavirus outspread. Due to the unbearable losses, the Chief Executive, John Chidsey is apparently looking for ways to cut down on costs as well as its global headcounts.

For more such updates, stay hooked on The Live Mirror.

Also Read: How To Watch Reliance AGM 2021 Live: Know About Mukesh Ambani’s Expected Announcements

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