Wendy's/Arby's International Announces Argentina Development Agreement
New Franchisee Plans 50 Wendy's Restaurants First Wendy's to Open in Buenos Aires in 2011
ATLANTA, Jan 27, 2011 (BUSINESS WIRE) -- Wendy's/Arby's International Inc., a subsidiary of Wendy's/Arby's Group, Inc. (NYSE:WEN), today announced an agreement with Desarrollos Gastronomicos S.A. (DEGASA) to develop 50 Wendy's(R) restaurants in Argentina over the next 10 years, with the first location to open this year in Buenos Aires.
DEGASA is a private investment company, with investors that control D&G, a company that operates and franchises Havanna Café -- a quick-service coffee chain with more than 180 outlets in Argentina. The chain, which is the largest coffee retailer in Argentina, has recently expanded to nine additional countries in Latin America and Europe, with 68 outlets.
"Argentina is the latest example of the meaningful progress that we are making in the acceleration of our international expansion efforts," said Wendy's/Arby's Group President and Chief Executive Officer Roland Smith.
"We are pleased to welcome DEGASA to our International system. As part of an organization with a proven track record running successful food service operations, our new franchisee has the strength and resources to rapidly build Wendy's presence in Argentina," Smith said.
"This agreement is a substantial step forward in DEGASA's strategy of creating one of the leading food service operators in Latin America. We are enthusiastic about the opportunity to bring Wendy's to Argentina," said DEGASA spokesperson Guillermo Stanley.
In addition to Argentina, since June 2009, Wendy's/Arby's Group subsidiaries have reached long-term development agreements with franchisees for the Middle East and North Africa, Singapore, Turkey, Russia and the Eastern Caribbean. The company is aggressively pursuing potential opportunities in Japan, China, Brazil and other key international markets.
About Wendy's/Arby's Group, Inc.
Wendy's/Arby's Group, Inc. is the third largest quick-service restaurant company in the U.S. and includes Wendy's International, Inc., the franchisor of the Wendy's restaurant system, and Arby's Restaurant Group, Inc., the franchisor of the Arby's(R) restaurant system. The combined restaurant systems include more than 10,000 restaurants in the U.S. and 24 countries and U.S. territories worldwide.
SOURCE: Wendy's/Arby's Group, Inc.