• Sunday, June 23, 2024

News

Greggs to increase ties with Issa-owned franchisees

The London-listed baker plans to open 150 new outlets by the end of this year, of which around a quarter will be run by franchisees

A general view of Greggs store in South Woodford, London, Britain, November 17, 2021. (REUTERS/James Davey/File Photo)

By: Shajil Kumar

Baker and fast food retailer Greggs will deepen ties with its major franchise partners, including those owned  by Issa brothers, as it plans to open 150 new outlets in 2024.

The London-listed firm said it has already opened 64 new outlets this year, of which around a quarter were with franchisees, and plans to open 96 more by the end of the year, the Standard reports.

Greggs chief executive Roisin Currie said Asda, which is co-owned by the billionaire Issa brothers, had been its biggest franchise partner to date, with kiosks at its various properties.

The other major franchise partners include EG Group, also owned by the Issas, Rontec-owned forecourts, and supermarket majors Tesco and Sainsbury’s.

Currie told the Standard that the company’s strategy is to be available to customers wherever they want to shop with them. It aims to increase its presence in key transport locations such as rail and petrol stations.

Greggs currently has 16 franchise partners and plans to add a few more in the next couple of years.

Greggs recently reported a 7.4 per cent rise in like-for-like sales to £693 million for the first nineteen weeks of the year.

The Newcastle-based retailer also plans to purchase new equipment for its stores amid a roll out of a fresh range of iced drinks in summer.

The firm has also taken out a new property lease in Derby in a bid to increase its manufacturing and logistics capacity.

Related Stories

Videos

Mrunal Thakur on Dhamaka, experience of working with Kartik Aaryan,…
Nushrratt Bharuccha on Chhorii, pressure of comparison with Lapachhapi, upcoming…
Abhimanyu Dassani on Meenakshi Sundareshwar, how his mom Bhagyashree reacted…