Subway, Pegacorn ink agreement for expansion in Peninsular Malaysia
Around 500 Subway stores will be opened under the master franchise agreement.
Quick service restaurant brand Subway entered a new master franchise agreement with Pegacorn Sdn Bhd in a bid to expand its footprint and open around 500 new stores in West Malaysia in the next 10 years.
In a statement, Subway said this is the third master franchise agreement in Southeast Asia, following partnerships in Indonesia and Thailand, adding that the planned number of new stores will triple the number of its restaurants in the market, noting that the agree
Led by Pegacorn, guests can expect a rise of Subway non-traditional locations across the country such as in airports, hospitals, petrol stations and convenience stores.
The new and updated existing restaurants will also feature Subway’s “Fresh Forward” design, as well as a drive-through and “Grab & Go” options.
“The Asia Pacific and the Southeast Asia markets continue to be a huge opportunity of growth for Subway and an essential part of our international growth strategy,” Subway CEO John Chidsey said.
“Pegacorn has proven to be a well-resourced, strategic and successful local operator that has the local insight and experience needed to expand Subway’s presence in Malaysia,” he added.
Subway said it will continue to “seek strong partners” in local markets across the Asia Pacific to double its restaurants in the region to reach 6,000 in the next five years from the about 3,300 today.