Arby's(R) Exceeds New Store Development Goals For 2007
By: Arby's | 11 Shares 522 Reads
148 Restaurants Opened In 2007
197 New Franchise Development Commitments Signed
ATLANTA--(BUSINESS WIRE)--Arby's Restaurant Group, Inc., a subsidiary of Triarc Companies, Inc. (NYSE: TRY, TRY.B), announced today that it exceeded its development goals for 2007 with the opening of 148 Arby's restaurants and the signing of new commitments to open an additional 197 restaurants throughout the U.S. and Canada.
"We have continually increased restaurant openings and expanded our footprint across the U.S. since the acquisition of our largest franchisee, RTM, and subsequent formation of Arby's Restaurant Group," said Tom Garrett, President and COO, Arby's Restaurant Group, Inc. "We are well on our way to meeting our long range goal of 5,000 restaurants in North America."
Development agreements signed with existing franchisees in the second half of 2007 are highlighted below:
* David Chen, President of United Global Management Group, has been a franchisee since March 2006 when he brought Arby's back to Manhattan and now owns and operates two Arby's locations in New York. Chen has agreed to open an additional six Arby's restaurants throughout New York State.
* PRP, a franchisee for more than ten years, currently operates 21 Arby's restaurants throughout Alabama, Florida and Mississippi and has agreed to open five more in Alabama and Mississippi.
* Paul Morgan and Steve Frederickson of Palo, Inc. own and operate one Arby's restaurant in Fillmore, Utah and have agreed to open four more throughout the state.
* Bill Hanson, President of Hanson Restaurants Ontario, Inc., currently owns 27 Arby's restaurants and has agreed to develop three additional Arby's in Regina, Saskatchewan and one in Kingston, Ontario.
* Dennis Wells, who operates 34 Arby's throughout the state of Texas, has signed on to open three more Arby's restaurants in San Antonio.
* Love's Country Stores, Inc., a loyal Arby's franchisee since 1999, operates 34 Arby's throughout the U.S. Love's has signed a development agreement to open three additional Arby's restaurants in Florida, Illinois and Mississippi.
* Donald Moore, President of Miracle Restaurant Group, LLC, currently owns and operates 57 Arby's in Colorado, Illinois, Indiana, Louisiana, Mississippi and Texas. A franchisee for six years, Moore has committed to two more Arby's restaurants throughout New Orleans.
* J&J Ostrowski Enterprises, under the leadership of Jeremy and Jennifer Ostrowski, is a multi-generational franchisee since 1987 who own and operate six Arby's in Wisconsin and have signed on to open two additional restaurants in the state.
* Jerry Garland of Garland Restaurants, Inc. owns and operates six Arby's in Kentucky and Tennessee and has signed an agreement to open two more in Lexington.
* Toni Winston, a franchisee since 1995, owns three Arby's in Ohio and West Virginia and has agreed to open two more throughout Ohio.
* Bindu Joshi, President of Amash, Inc. owns two Arby's restaurants in Los Angeles. Bindu, an Arby's franchisee since 2005, has signed an agreement to open one Arby's in Wildomar, California.
* David Early, a seasoned Arby's veteran and former RTM, Inc. region leader who became a franchisee in 2004, has signed an agreement to open one restaurant in Winder, Georgia. Early owns and operates eight restaurants throughout Georgia and one in South Carolina.
* Don Evans, President of Avenue Corporation, has agreed to open one Arby's in Cedartown, Georgia. Evans currently owns three restaurants in the Atlanta DMA.
* J.C. Faw, President of Platinum Foods, Inc. owns an Arby's in North Carolina and has agreed to open one additional Arby's in Yadkinville, North Carolina. Faw has been with the Arby's system since 2001.
* Abdul Aziz Andani currently owns and operates three Arby's restaurants in Chicago and has signed an agreement to open one more in the market.
* Chris Cooper, a franchisee since 2006, has signed on to open one Arby's restaurant in Marquette, Michigan. Cooper currently operates three Arby's in Escanaba, Iron Mountain and Manistique Michigan.
* James Cunningham owns and operates six Arby's restaurants in the Los Angeles and San Diego markets and has signed a development agreement to open one more in Fountain Valley, California.
* Shoukat Ali Dhanani, who opened his first Arby's restaurant in 2006 in Sugarland, Texas, has signed a development agreement to open one more in Dickinson, Texas.
* DRM, Inc. has agreed to develop one Arby's restaurant in Omaha, Nebraska. A member of the Arby's system since 1968, DRM currently operates 68 Arby's throughout the Midwest.
* Grant Avenue Development, Inc., a franchisee since 1988 with 35 Arby's restaurants in New York, Pennsylvania and Virginia, has signed on to open one additional Arby's in Virginia.
* William Gilbert owns and operates five Arby's restaurants throughout Missouri and has signed on to open one more in Springfield.
* Golightly & Long, LLC, a franchisee since 2005, owns and operates one Arby's restaurant in Benton, Kentucky has agreed to open one in Mayfield, Kentucky.
* Richard Ripp, a franchisee since 1967, owns and operates 18 restaurants throughout Virginia. Ripp has agreed to open one additional Arby's restaurant in Richmond.
* SMB Restaurants, LLC currently owns and operates 14 Arby's restaurants throughout Virginia. SMB has agreed to develop one additional Arby's in Chesapeake.
* Ernest and Rhoda Sternitzky, who operate three Arby's in Wisconsin and have signed a development agreement to open one more in the same sate in the city of Medford.
* Malik & Abdul Waliany of Amisha, Inc. and S.M. Good Luck Inc. own and operate 12 Arby's in the Houston market and have agreed to open one more in Montgomery, Texas.
Arby's is pleased to welcome the following new franchisees to the Arby's system in the second half of 2007:
* Osama Aziz has signed an agreement to develop five Arby's restaurants throughout the state of Washington.
* Noam Bizman has signed an agreement to develop four Arby's restaurants in Houston.
* Ruby Coaty has agreed to open three Arby's in Los Angeles.
* Jorge Gonzalez has signed an agreement to develop three Arby's in Laredo, Texas.
* Dennis and Michelle Bush have agreed to open two Arby's restaurants in Clallam County, Washington.
* Brad Cole has agreed to open two Arby's restaurants in Texas.
* Mourad Elayan has signed on to open two Arby's in New Jersey.
* Jeff Hess has signed an agreement for two Arby's restaurant in California.
* David Manley has signed an agreement to develop two Arby's restaurants in Bastrop and Pflugerville, Texas.
* Paul McCormack has agreed to open two Arby's restaurants in Ontario, Canada.
* Carmen Ongoco has agreed to open two Arby's restaurants in Houston.
* Kaushik Patel has signed an agreement to open two Arby's in Avenel, New Jersey.
* Acoma Business Board has signed on to open one Arby's restaurant in Cibola, New Mexico.
* Lawrence Foster has agreed to open one Arby's in Rutherford, New Jersey.
* Jihad Hattar has signed an agreement to develop one Arby's restaurant in Chicago.
* Zahid Iqbal has agreed to open one Arby's restaurant in Merrillville, Indiana.
* Debra Joel has signed an agreement to open one Arby's in Bolivar, Mississippi.
* Sunny Kurani has signed on to open one Arby's restaurant in Wichita Falls, Texas.
* Mike Melenchuk has agreed to open one Arby's restaurant in Dartmouth, Nova Scotia.
* Angela Ryckman has agreed to open one restaurant in Ruther Glen, Virginia.
* Scott Stewart has agreed to develop one Arby's in Simi Valley, California.
* Raed Sweiss has signed an agreement to open one Arby's restaurant in Aurora, Illinois.
* Melissa Tipton has agreed to open one Arby's restaurant in Nicholasville, Kentucky.
* Rania Quzah has signed an agreement to open three Arby's restaurants throughout South Carolina.
About Arby's Restaurant Group, Inc.
Arby's Restaurant Group, Inc. (ARG) is a subsidiary of Triarc Companies, Inc. (NYSE: TRY, TRY.B). ARG, based in Atlanta, is the franchisor of the Arby's restaurant system, which consists of more than 3,600 restaurants worldwide, and is owner and operator of over 1,100 of those restaurants located in the United States. Founded in 1964, Arby's quick service restaurants specialize in offering slow roasted and freshly sliced roast beef sandwiches as well as its Market Fresh® deli-style sandwiches, toasted subs, wraps and salads with the convenience of a drive-thru. Arby's offers guests a unique, great tasting alternative to traditional fast food with its one-of-a-kind menu items including the Beef 'n Cheddar, Curly Fries and Jamocha shakes. To learn more about Arby's, please visit www.arbys.com.
Notes To Press Release
1. Arby's franchisees are independent third parties that Arby's Restaurant Group, Inc. does not control, and numerous factors beyond their control may affect new restaurant openings. There can be no assurance that the commitments under these development agreements will be met and that they will result in open restaurants.
2. The statements in this press release concerning Arby's Restaurant Group, Inc. that are not historical facts, including, most importantly, any information concerning possible or assumed future results of operations of Arby's Restaurant Group, Inc. and any statements preceded by, followed by, or that include the words "may," "believes," "plans," "expects," "anticipates" or the negation thereof, or similar expressions, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). All statements that address events or developments that are expected or anticipated to occur in the future are forward-looking statements within the meaning of the Reform Act. All such statements speak only as of the date of this press release and are susceptible to a number of risks, uncertainties and other factors. For a description of those factors, please refer to filings by Triarc Companies, Inc. with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 30, 2007 (in particular the discussions contained under "Part 1 – Special Note Regarding Forward-Looking Statements and Projections" and "Item 1A - Risk Factors – Risks Related to Arby's"). For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Reform Act. All future written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this note. We assume no obligation to update any forward-looking statements after the date of this press release as a result of new information, future events or developments, except as required by federal securities laws.
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