Businessman Yair Tamir will purchase control of "Subway"
Israel from the Harizman Group and a group of private
Israeli investors headed by Moshe Makov. Tamir will
serve as the company's General Manager. The company is
evaluated at approximately $1 million.
In the first stage Tamir will acquire 45% of the
company and receive an option for an additional 50%. The
remaining 5% will remain in the hands of Moshe Shaltiel,
the Israeli franchise entrepreneur living in the US, who
was among the initiators of bringing the original "Subway"
franchise to Israel.
"Subway" Israel, which holds the "Subway" franchise in
Israel, operates 16 restaurants, two under ownership and
14 in secondary franchises. The chain's annual sales
volume is about $3 million annually.
Tamir confirmed the announcement and stated that he
has prepared an aggressive development plan for "Subway"
according to which the chain should grow to 30
restaurants by the end of the year, of which six will be
owned by the company and 24 will be secondary franchises.
"Subway"'s sales turnover, according to him, should reach
$4.5 million in 1996.
The "Subway" chain is the largest in the world in the
sale of sandwiches, including 12,000 branches in 28
countries. The chain is privately-owned with a sales
volume of about $3 billion annually.