Escape Hunt (UK) Signs Agreement to Expand Franchises in North America
30 Apr 2019 - Escape Hunt PLC on Monday made a "significant" step towards its goal of growing its franchise estate by two or three times over the medium term.
The firm, which provides live 'escape room' experiences, has signed heads of terms with a US franchising partner to roll-out new sites in both the US and Canada.
The heads of terms are detailed, Escape Hunt said, but are still subject to a contract being signed.
"The US partner brings a wealth of experience both as a franchisee and franchisor of a number of leisure businesses, with dedicated management and the financial resources to execute the anticipated roll-out," said Escape Hunt.
"A detailed plan to address the significant market opportunity has already been developed with this US partner during discussions over the last six months."
Shares were 2.6% higher on Monday morning at 60.02 pence each.