Nordic Bites Group acquires nine Subway restaurants in Finland
Nordic Bites Group (NBG), the Nordic master franchise partner of the Subway chain, is increasing its owned restaurant footprint in Finland by acquiring nine Subway restaurants. Following the transactions, Nordic Bites Group owns over 100 restaurants in Finland, Sweden, and Denmark.
The transfer of Subway restaurants operating in Tampere, Turku, Nokia, and Salo to NBG’s ownership is part of the company’s broader growth and development plan. The company’s minority shareholders Juuri Partners and Arvo Sijoitusosuuskunta are participating in the transaction and the execution of NBG’s growth and development plan.
“The acquired restaurants are located in prime locations, and integrating them into our own network supports Nordic Bites Group’s long-term growth and development plan. The increase in the number of company-owned restaurants strengthens our ability to lead and develop operations systematically as part of the Nordic entity,” says Nordic Bites Group CEO Petteri Lehtimäki.
Nordic Bites Group’s growth has been supported since early 2023 by private equity investor Juuri Partners. Arvo Sijoitusosuuskunta joined as a new investor in early 2025 and is now increasing its investment to enable acquisitions and to execute the jointly developed growth plan.
“We have been following Nordic Bites Group’s development for about a year now. The company has successfully taken on its new, more strategic role as Subway’s Nordic master franchise partner. As a co-investor, it is also important to us that our values align with those of lead investor Juuri Partners. This is a good moment for Arvo to make an additional investment and enable growth,” says Arvo CEO Jari Pirinen.
Contact: Petteri Lehtimäki, CEO, Nordic Bites Group Oy, petteri.lehtimaki@nordicbites.fi
Nordic Bites Group Oy (NBG) is Subway’s® master franchise partner in Finland, Sweden, Norway, and Denmark. Under the master franchise agreement, NBG holds the exclusive right to manage over 370 Subway® restaurants in the Nordics. NBG’s subsidiaries Subcom Oy, Subcom Sweden AB, and Subcom Denmark ApS own and operate over 100 Subway® restaurants in Finland, Sweden, and Denmark as of April 1.
Juuri Partners became a significant minority shareholder in Nordic Bites Group Oy in January 2023. Juuri Partners supports the expansion of Nordic Bites Group’s Nordic master franchise operations and the development of its operational capabilities through board participation and growth financing. This ensures that Subway’s expansion is built on strong local ownership and long-term strategic governance.
Arvo Sijoitusosuuskunta is an enabler of growth. Its investments are primarily directed at small and medium-sized enterprises seeking growth. Portfolio companies are expected to have profitable and established businesses. Arvo plays an active role in developing its portfolio companies and enabling industry consolidation. Investments are made as minority equity investments, loan investments, or combinations thereof.