Japanese Pub Chain Watami Acquires Subway Japan

Economy

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Tokyo, Oct. 25 (Jiji Press)--Japanese "izakaya" pub chain operator Watami Co. said Friday that it has acquired Subway Japan G.K., which operates Subway sandwich outlets in Japan.

The value of the transaction was not disclosed. Watami also signed a franchise contract with Subway International BV on the same day.

Watami aims to push up its revenue through the newly acquired fast food business, which it has added to its mainstay pub and restaurant operations and its meal delivery business.

"The Watami brand is getting old," President and Chairman Miki Watanabe said. "I want to make the brand popular among young people once again."

The company aims to increase the number of Subway restaurants in Japan to 3,000 from the current 178 over the next two decades.

[Copyright The Jiji Press, Ltd.]

Jiji Press