The Subway Franchise was Purchased in Panama by the Vierci Group

The Group began operations in Panama in 2016 with Burger King, and expanded its presence in 2019 with Popeyes.  They are doing a great job so far but if only they could bring Pizza Hut back to Panama.  The Vierci Group acquired 100% of Subway Panama, the master franchisee and exclusive operator of Subway restaurants in the country, in a transaction that includes more than 70 locations and a staff of more than 480 employees.  The transaction was advised financially by Siuma Capital, which represented the shareholders of Supreme Services No. 3, SA, and the company that operated the brand in the Panamanian market.   

With this operation, the business group —of Paraguayan capital— consolidates its presence in the Quick Service Restaurants (QSR) sector in Panama, where it already operates the Burger King and Popeyes brands, going on to manage three of the most relevant global franchises in the segment in the country.  “Subway is a brand with a very valuable history in Panama. Our commitment is to maintain its quality standards, strengthen its operations, and support its next stage of growth in the country,” said Elías Yanho, director of the Fast Foods Division of the Vierci Group. 

For his part, Artemio Garza, president of Subway for Latin America and the Caribbean, stated that Panama is a key market for the brand in the region, and that this new phase will allow it to accelerate its growth and modernization. The executive also highlighted the experience of the Vierci Group as a Subway master franchise in Paraguay, Uruguay, Spain, and Portugal.  Subway is currently the second largest fast-food restaurant franchise in Panama in terms of number of locations. It began operations in Panama in 1997, when it opened its first restaurant in the banking district of Marbella.  According to the companies involved, the integration of Subway will generate logistical and commercial synergies, strengthen formal employment and continue the development of local talent, while maintaining the brand’s global standards.