Subway has entered a ten-year master franchise development agreement with Grupo Vierci to expand and upgrade its restaurant network in Panama.
The arrangement builds on Subway’s existing association with Grupo Vierci, a Paraguayan family-owned company and one of the brand’s major multi-country operators.
Grupo Vierci already oversees Subway operations in Paraguay, Uruguay, Spain and Portugal.
The latest deal adds Panama to its Subway portfolio.
Grupo Vierci fast food division director Elias Yanho said: “We are honoured to add Panama to our growing Subway portfolio and build on the strong foundation already in place.
“Our focus will be on growth, continued investment in modernisation, strengthening our local team, and driving operational excellence across every restaurant in Panama.”
Under the new agreement, Subway plans to lift its restaurant count in Panama by more than 30% over the coming decade.
The deal also sets out an enhanced programme to overhaul existing sites. This includes refurbishments and upgrades to customer-facing technology such as in-store kiosks, mobile ordering options and a loyalty scheme.
Subway positions Panama as a strategic country within its Latin America and Caribbean growth plans, pointing to its urban demographics, established QSR industry and status as a logistics and tourism hub.
Subway Latin America and Caribbean president Artemio Garza said: “Panama is a key market for us in Central America, and this agreement marks an important step forward in our partnership with Grupo Vierci.
“Their disciplined approach to growth aligns closely with our strategy to expand Subway’s presence while modernising the restaurant experience.
“Together, we will continue investing in the restaurants, the teams, and the guest experience across Panama.”
Earlier this year, Subway entered the Azerbaijani market by signing a master franchise agreement with N Sky Build.
“Subway signs franchise deal with Grupo Vierci to expand in Panama” was originally created and published by Verdict Food Service, a GlobalData owned brand.
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