Texas Roadhouse, Inc. Signs First International Franchise Agreement
LOUISVILLE, Ky. (BUSINESS WIRE) - Texas Roadhouse, Inc. (NasdaqGS: TXRH) announced that it would open its first restaurants outside of the United States in the Middle East.
The Louisville, Ky.- based company, which has 337 restaurants in 46 states, signed an area development and license agreement with Kuwait-based retailer M.H. Alshaya Co. The agreement calls for M.H. Alshaya to build 35 Texas Roadhouse restaurants in 10 years. The locations will be spread across eight Middle East countries.
"We are very proud to expand the Texas Roadhouse brand internationally. We think that our quality food, service and value will appeal to consumers in the Middle East, and we are excited about the partnership with Alshaya," said G.J. Hart, president and CEO of Texas Roadhouse.
It is anticipated the first restaurant will open in the first quarter of 2011.
M.H. Alshaya operates 1,700 stores in the Middle East, North Africa, Turkey, Cyprus, Russia, Poland, Egypt, Slovakia, the Czech Republic and Hungary.
"We are very proud to introduce Texas Roadhouse to the Middle Eastern market," Mohammed Alshaya, executive chairman of M.H. Alshaya Co., said in a prepared statement. "As a company dedicated to our customers' needs we are always determined to bring in fresh and strong brands and therefore contribute to creating a most fashionable, cosmopolitan environment in the region."
About M.H. Alshaya Co.:
M.H. Alshaya Co. stores can currently be found in 15 markets across the Middle East, North Africa, Turkey, Cyprus, Russia, Poland, Slovakia and Czech Republic. It employs more than 18,000 people from over 60 nationalities.
About Texas Roadhouse:
Texas Roadhouse is a casual dining concept that first opened in 1993 and today operates 337 restaurants system-wide in 46 states.
SOURCE: Texas Roadhouse, Inc.
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