18th Apr 2016 07:12
LONDON (Alliance News) - Immedia Group PLC shares surged on Monday morning after the company said it has signed a five-year deal to provide in-store radio services to franchisees of fast-food chain Subway.
Immedia shares were up 53% to 36.60 pence, the best performer in the AIM All-Share in early trade.
Immedia said it has signed a five-year deal with the European Independent Purchasing Co Ltd, an organisation owned by Subway franchisees, to supply seven Subway-branded in-store music and marketing channels under the moniker Subway Radio.
Under the terms of the deal, Subway radio will be available to all Subway franchisees in the UK, Ireland, France, Germany, the Netherlands, Finland and Sweden.
No specific financial details were disclosed, but Immedia will get an annual subscription fee per franchisee site from the group.
"We are delighted to be working with the Subway brand and EIPC and look forward to adding a new dimension to the already superb Subway store experience," said Immedia Chief Executive Bruno Brookes.
By Sam Unsted; [email protected]; @SamUAtAlliance
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