Announces New Franchise Development Agreement in Yemen
CARPINTERIA, Calif.--(// BUSINESS WIRE //)-- CKE Restaurants, Inc. (NYSE: CKR) today announced the opening of its first Hardee's® restaurant in Lahore, Pakistan. This marks the first of at least 25 Hardee's restaurants to be opened in Pakistan within the next five years. The franchised Hardee's restaurant is operated by MDS Foods Private Limited, a subsidiary of the Super Asia Group, a leading home appliances and automotive company in Pakistan since 1960.
"We are pleased to announce the opening of our first restaurant in Pakistan and are pleased to welcome MDS Foods Private Limited to the CKE family," said Andy Puzder, CEO of CKE Restaurants, Inc. "We have a solid base of Hardee's restaurants in the Middle East, strong brand awareness in the region, and are excited about introducing the Hardee's brand to Pakistan. Many Pakistani people have experienced the great tasting food of Hardee's during their travels to the US and throughout the Middle East. With our strong presence in the region combined with the local talent of MDS, we are confident that we will have a bright future in the market."
"It is a great honor to bring Hardee's to the Pakistan market," added Sohail Yousaf, CEO MDS Foods Private Limited. "We strongly feel that there is a growing demand for quality dining experiences and are confident that Hardee's will raise the bar of QSR dining in Pakistan. Our premium products, excellent service standards, premium facility and premium location will deliver an ultimate dining experience to guests, and give us a competitive edge in the quick-serve restaurant market. We look forward to opening additional restaurants in Lahore over the next 12 months and have plans to open 15 Hardee's restaurants across the north region in the next five years."
CKE Restaurants' entry into Pakistan is an extension of its international expansion strategy and the company sees a high demand for premium quick service restaurants in the region. Hardee's has operated franchised restaurants in the Middle East since 1980 and currently operates 205 Hardee's restaurants in Egypt, Lebanon, Jordan, Kuwait, Saudi Arabia, United Arab Emirates, Bahrain, Qatar, Oman, and now Pakistan.
Currently, CKE franchises 338 international restaurants between both its Carl's Jr.® and Hardee's brands. The company has strategic development plans to double its International presence within the next five years.
In addition to the Pakistan opening, the company would also like to announce the execution of a development agreement for three Hardee's restaurants in the Republic of Yemen.
About CKE Restaurants, Inc.
Headquartered in Carpinteria, Calif., CKE Restaurants, Inc. is publicly traded on the New York Stock Exchange under the symbol "CKR." As of the end of its fiscal 2010 second quarter, CKE Restaurants, Inc., through its subsidiaries, had a total of 3,140 franchised, licensed or company-operated restaurants in 42 states and in 14 countries, including 1,212 Carl's Jr. restaurants and 1,915 Hardee's restaurants.
About MDS Foods Private Limited.
Founded in 2008, MDS Foods Private Limited is a subsidiary of the Super Asia Group, a leading home appliances and automotive company in Pakistan since 1960. MDS Foods Pvt. Ltd operates the food division of the Super Asia Group and is one of many strategic business units of the company. MDS Foods Private Limited has signed a development agreement with CKE Restaurants, Inc. to open 15 Hardee's restaurants in Punjab and the NWFP Provinces of Pakistan within the next four years.
Source: CKE Restaurants, Inc.
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