Fish and chip shop chain Harry Ramsden's, which is owned by Boparan Ventures, has approved franchised rights to Vikesh and Dimple Patel, of JVP Ventures, to open 50 sites in Yorkshire by 2018.
The company announced earlier this month increased pre-tax losses in 2012 but continued its plans to reach 250 sites by 2020. The new franchise deal is the first since its acquisition by Boparan in 2010 and possible sites are already being sought for in Leeds, Bradford and York.
JVP Ventures, who currently run the 34-strong Love chain of coffee shops nationwide, will open their first franchised site next year. The 50 new sites will eventually create a total of 500 new jobs.
Vikesh Patel said: 'To be able to bring Harry’s name back to his roots is really exciting, especially since both Dimple and myself were born and brought up in Yorkshire.
'Working with an established and recognised brand is absolutely key to franchising success and to my mind, Harry’s Ramsden’s is the most iconic brand this country has ever produced.
'Our confidence in the Harry Ramsden’s name is reflected in the fact that our initial investment is being financed personally. In the coming years, we will regularly plough our profits back into the business to achieve our ambition of having 50 new outlets opened within five years.”