- Expands its presence in the fast growing F&B and fast food space with a portfolio including Burger King, Basking – Robbins, Popeyes, Delifrance and Crystal Jade
Further expanding its footprint in the fast-growing food and beverage sector, Softlogic Holdings Group has taken over the franchise of global brand Subway in Sri Lanka.
The move is being made through Softlogic Restaurants Ltd, a wholly owned subsidiary of Diversified Blue Chip.
It last week entered into a joint venture and management agreement for the development and operation of outlets previously operated by Subway Development Ltd. (the Subway franchise in Sri Lanka) and took over Subway’s existing operations in Sri Lanka.
Subway is an America-based single-brand restaurant chain and multinational fast-food franchise that primarily sells subs, sandwiches, wraps, salads, and beverages.
Softlogic Restaurants Ltd., which operates in the retail sector of the Softlogic Group, manages and operates international franchises such as Burger King (22 outlets), Basking-Robbins (9 outlets), Popeyes (1 outlet outlets), Delifrance (2 outlets) and Crystal Jade (1 outlet).
The transaction marks the foray of Softlogic Restaurants Ltd. in offering the best and most diverse dining experiences and quick service restaurants to satisfy local testers across a wide range of international restaurant chains in Sri Lanka.
In FY22, Softlogic added Popeyes, the 2nd largest chicken restaurant in the world.
He said that with a portfolio of five restaurant brands, the industry is now well positioned to drive penetration across all customer segments. “Our partnerships with major brands have also enabled us to meet changing customer needs, including greater health awareness and a preference for natural products,” the company’s annual report said, adding that it will seek expand its footprint with the opening of several new points of sale in 2021. /22.
Softlogic’s retail business, which includes Odel, Cotton Collection (branded clothing and fashion), mobile phones, consumer electronics, supermarkets and Suzuki motorcycles, spare parts,
and accessories, represents 53% of Group sales. It reported Rs. 43.5 billion in revenue in FY22 and Rs. 2.9 billion in EBITDA. It ended the year with Rs. 2.6 billion loss due to extended business interruptions.