Important Milestone Attained with the Millennial Restaurant Opening Taking Place in Rio De Janeiro, Brazil
MIAMI--(BUSINESS WIRE)--Aug. 14, 2008--Burger King Corp. (NYSE:BKC) announced today that it now has 1,000 restaurants open in the Latin America and Caribbean region. BURGER KING(R) restaurants now operate in 27 countries across the region and have realized 15 years of positive comparable sales growth. Most recently, the BURGER KING(R) brand surpassed its closest competitor in Mexico in total number of restaurants making it the region's 17th country to successfully attain market leadership.
The region's 1,000th restaurant opening took place in Rio de Janeiro, Brazil in June 2008 with franchisee Emilio Westermann. Westermann has a development agreement to open an additional 30 restaurants in Brazil over the next five years.
"The Latin America and Caribbean region's strategy has always focused on delivering clear, tangible and profitable results by providing our guests a superior dining experience over the competition," said Armando Jacomino, president, Latin America & Caribbean, Burger King Corp. "Jointly, with our franchise and company restaurants, we are confident that we will continue to gain market leadership. We will grow our brand by offering quality products and exceptional service with increasing convenience as we pursue significant restaurant development opportunities throughout the region," adds Jacomino.
Much of the BURGER KING(R) brand's recent restaurant expansion can also be attributed to new market entries in Colombia, Curacao, Suriname and Uruguay and the further development of existing markets such as Mexico, Brazil and the Southern Cone.
Certain statements made in this press release that reflect management's expectations regarding future events are forward-looking in nature, including statements regarding the Company's beliefs regarding its plans to develop new company restaurants in the Latin American and Caribbean region, and the Company's expectations regarding the ability of its franchisees to successfully execute their development plans. These forward-looking statements are only predictions based on our current expectations and projections about future events. Important factors could cause our actual results to differ materially from those expressed or implied by these forward-looking statements, including those risk factors set forth in our annual and quarterly reports filed with the Securities and Exchange Commission and the following: (i) our ability to compete internationally in an intensely competitive industry; (ii) our ability to successfully implement our international growth strategy; and (iii) risks related to our international operations.
Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results. Moreover, neither we nor any other person assumes responsibility for the accuracy or completeness of any of these forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. We do not undertake any responsibility to update any of these forward-looking statements to conform our prior statements to actual results or revised expectations.
The BURGER KING(R) system operates more than 11,400 restaurants in all 50 states and in 70 countries and U.S. territories worldwide. Approximately 90 percent of BURGER KING(R) restaurants are owned and operated by independent franchisees, many of them family-owned operations that have been in business for decades. To learn more about Burger King Corp. please visit the company's Web site at www.bk.com.
SOURCE: Burger King Corp.