The chain plans to open 50 outlets (20 in south India & 30 in the North and central India) by the end of FY 23, and a revenue projection of INR 150 Cr in FY23.
The partnership between the Montana group and KHPL signifies a commitment to revitalize and relaunch this brand in the Indian market, the company release said.
Estimated later this year, P.F. Chang's expansion will also reach Mumbai with the opening of an all-new bistro location operated by GIPL and Delhi National Capital Region in 2024.
J.P. Morgan is serving as financial advisor and Sullivan & Cromwell LLP is serving as legal counsel to Subway. Timing is subject to regulatory approvals and customary closing conditions.
In addition, Subway has promoted Cristina Wells as Senior Vice President of U.S. Marketing. Wells joined the U.S. marketing team in 2021 as Vice President of Strategy and Planning.