Escape Hunt (LON:ESC) announced that it has signed heads of terms with a US franchising partner for a roll-out of new franchisee sites across the US and Canada. Although the heads of terms are detailed, they are still subject to a contract being completed.
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. A detailed plan to address the significant market opportunity has already been developed with this US partner during discussions over the last six months.
In line with its ambition of growing the franchise estate by two to three times over the medium term in conjunction with well-resourced partners, Escape Hunt believes that this deal represents a significant step towards achieving this goal.
Escape Hunt (LON:ESC) noun Def: The name given to 60 minutes of pure, unadulterated excitement, during which you and your teammates lose yourselves in an incredible experience, working together to follow a series of fiendishly clever clues and escape a locked room. Gresham House Strategic PLC (LON:GHS) has a 2.7% ownership of Escape Hunt as of June 2018.