Arby's Signs Development Agreement with Charles Chera for 41 New Restaurants Throughout New York Metropolitan Area
ATLANTA--(BUSINESS WIRE)--Arby's Restaurant Group, Inc. has signed an agreement with Charles Chera of RCNY Restaurants, LLC for the development of 41 new Arby's® restaurants throughout the New York Metropolitan area over the next ten years.
The Chera family, third generation real estate developers and brokers in the New York metropolitan area, represents large landlords and tenants looking for retail space through their real estate company, R.C. Chera Realty Group LLC. Charles Chera started out in the retail business more than 30 years ago with his family operating mid-size department stores throughout New York City and New Jersey.
Charles will be the Chairman and CEO of the company, while his sons, Raymond and Ralph, will serve as President and Vice President of the restaurant business and will be responsible for the day-to-day operations and the development of sites. "For our Arby's expansion, we are typically seeking in-line locations of approximately 2,500 square feet, freestanding locations with a drive-thru of approximately 3,000 square feet, and food court locations for Malls and airports of approximately 800 square feet," said Charles Chera. R.C. Chera Realty Group is accepting site submittals from brokers and landlords and can be reached at (718) 243-2455 or firstname.lastname@example.org.
"We are thrilled to partner with the Cheras to expand our reach throughout the New York Metropolitan area," said Tom Garrett, President & COO, Arby's Restaurant Group, Inc. "Their knowledge of the market and extensive business and retail experience will be a valuable asset in providing easy access to our customers."
"Arby's has a strong leadership team with operational experience second to none," Chera continued. "The brand is iconic and the menu is different and better than typical fast food. New Yorkers are thinking Arby's and we want to give them what they're craving."
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 approximately 3,700 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"), its Quarterly Reports on Form 10-Q and its Registration Statement on Form S-4 filed in connection with the pending merger with Wendy's International, Inc. (in particular the "Risk Factors" section of that filing). For all of our forward-looking 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.