ATLANTA (BUSINESS WIRE) -- Wendy's/Arby's International, a subsidiary of Wendy's/Arby's Group, Inc. (NYSE:WEN) today announced the signing of a long-term restaurant development agreement that will give the Wendy's(R) brand significant presence throughout the Eastern Caribbean.
The agreement calls for the development of 24 Wendy's restaurants over the next 10 years in Trinidad and Tobago and eight other markets. The first of these restaurants is scheduled to open in 2011 in Trinidad.
"This agreement will enable us to expand Wendy's brand presence throughout the Caribbean basin," said Wendy's/Arby's Group President and Chief Executive Officer Roland Smith. "In the north, our franchise restaurants in Puerto Rico and the Bahamas generate some of the highest annual unit volumes in our international system; and, in the west, we have a growing presence in Central America. Now, we're building on this regional momentum by entering the Eastern Caribbean with a highly capable franchise team."
The new franchisee is led by Dane Darbasie, who has seventeen years restaurant industry experience, including serving as chief executive officer and director of a publicly traded restaurant management company for 12 years.
"We're honored to have the opportunity to be associated with Wendy's, one of the world's leading restaurant brands. We believe the brand's strong focus on premium quality, menu development and operational excellence provides us with a terrific platform for future growth in our target markets," said Darbasie.
In addition to Trinidad and Tobago, Wendy's restaurants are planned in Antigua and Barbuda, Barbados, Grenada, Guyana, St. Lucia, St. Maarten, St. Vincent and Suriname.
Wendy's/Arby's Group, Inc. is the third largest quick-service restaurant company in the United States and includes Wendy's International, Inc., a franchisor of the Wendy'srestaurant system, Arby's Restaurant Group, Inc., a franchisor of the Arby'srestaurant system, and Wendy's/Arby's International, Inc., a franchisor/licensor of Wendy's restaurants, Arby's restaurants and dual-brand restaurants. The combined restaurant systems include more than 10,000 restaurants in the U.S. and 24 countries and territories worldwide.
Note: Wendy's franchisees are independent third parties that Wendy's/Arby's Group and its subsidiaries do not control.Numerous factors beyond the control of the company and its franchisees may affect new restaurant openings.Accordingly, there can be no assurance that commitments under development agreements with franchisees will result in new restaurant openings.
SOURCE: Wendy's/Arby's International