Restaurant India News: Haldiram’s Eyes QSR Expansion with Jimmy John’s Franchise Deal

The Haldiram Group, a leading Indian ethnic food company, is in advanced discussions with US-based Inspire Brands to bring the popular American sandwich chain, Jimmy John’s, to India. According to sources cited by The Economic Times (ET), the potential deal involves an exclusive franchise arrangement that would give Haldiram’s the rights to operate Jimmy John’s outlets across the country.

However, Haldiram’s has firmly denied these claims. A company spokesperson clarified, “At this stage, we’re in explorations with Inspire Group about supporting their Sourcing & Fulfilment Value Chains with our extensive international culinary supply ecosystem, especially as they continue to expand their global footprint. We believe this is the foundation of a solid partnership, but at this stage, all other forays are purely conjectural.”

If the partnership materializes, it would mark Haldiram’s first significant entry into western-style quick-service restaurants (QSRs), expanding beyond its traditional focus on Indian sweets and snacks. Media reports suggest the brand aims to position itself against established QSR chains like Subway and Tim Hortons, tapping into India’s young, aspirational consumer base that prefers café-style dining formats.

The proposed venture would likely operate under Haldiram’s restaurant division, currently valued at around Rs 2,000 crore. The division runs over 150 outlets nationwide and functions independently from Haldiram Snacks Food Pvt Ltd, the group’s packaged foods business.

Jimmy John’s, founded in 1983, operates over 2,600 outlets across the United States, Canada, South Korea, and the UAE. It is recognized as the largest delivery sandwich chain in the US, generating system-wide sales of $2.6 billion, according to ET.

Its parent company, Inspire Brands, manages several international food chains, including Dunkin’, Baskin-Robbins, Arby’s, Buffalo Wild Wings, and Sonic. In 2024, the group reported $32.6 billion in system-wide sales across a global network of 33,000 restaurants. In India, Inspire Brands already has an established presence through exclusive franchise agreements—Dunkin’ with Jubilant FoodWorks Ltd and Baskin-Robbins with the Graviss Group. The company continues to strengthen its international footprint through franchise-led expansion.

“For 40 years, Jimmy John’s has taken a straightforward approach to making quality sandwiches, and it’s now time to share them with the world,” said Michael Haley, president and managing director, international, at Inspire Brands. “We’re confident this brand is primed for extensive international growth.”

For Haldiram’s, the possible collaboration aligns with its ongoing corporate restructuring and diversification efforts. Earlier in April 2025, the group merged its Delhi and Nagpur FMCG operations under a single entity, Haldiram Snacks Food Pvt Ltd, as part of its preparation for a potential public listing.

Regulatory filings show that the merged business reported Rs 12,800 crore in revenue and Rs 1,400 crore in net profit for FY24, according to ET. The company has also attracted prominent global investors. Singapore’s Temasek recently acquired a 10 percent stake in Haldiram Snacks Food, valuing the company at around $10 billion. Meanwhile, Alpha Wave Global and Abu Dhabi’s International Holding Company (IHC) together picked up a 6 percent share.

The move comes as India’s restaurant and QSR industry experiences rapid expansion. The National Restaurant Association of India (NRAI) projects the sector will grow from Rs 5.69 lakh crore in FY24 to Rs 7.76 lakh crore by FY28, supported by rising disposable incomes, urban consumption trends, and the popularity of online food delivery platforms.

Earlier this year, Kamal Agrawal, a member of Haldiram’s founding family, invested Rs 150 crore in Wow! Momo through his family office, further signaling the group’s growing interest in the organized food services space.