Wendy's/Arby's Group Announces Development Agreement with Wenphil Corporation
Franchisee Commits to Expand Brand to 75 Restaurants in the Philippines
ATLANTA, Feb 23, 2011 (BUSINESS WIRE) -- Wendy's International, Inc., a subsidiary of Wendy's/Arby's Group, Inc. (NYSE:WEN), today announced the signing of a long-term agreement with Wenphil Corporation to significantly expand Wendy's(R) brand presence in the Philippines.
The new agreement with Wenphil - a Wendy's franchisee since 1983 - calls for the development of 44 additional restaurants, which would increase the total number of Wendy's locations in the country to 75. As part of the agreement, Wenphil will expand outside of Metro Manila into other cities and regions in the Philippines through the use of sub-franchising.
Elizabeth Pardo-Orbeta, Chairman of Wenphil Corporation, said: "We're delighted to renew our franchise relationship with Wendy's and we're excited about the opportunity to further expand our business in the Philippine market through innovative use of sub-franchising. While continuing to serve our customers in the Metro Manila area, we look forward to bringing Wendy's fresh, high-quality food to other potential growth areas throughout the Philippines."
Darrell van Ligten, President of Wendy's/Arby's International, said: "We see great growth potential for the Wendy's brand in the Philippines, where we are building on the relationship we have enjoyed for many years with Wenphil. This is another example of our aggressive focus on ramping up restaurant development outside of North America. Since June 2009, Wendy's/Arby's Group subsidiaries have signed new development agreements for portions of the Middle East and North Africa, Singapore, Turkey, Russia, the Eastern Caribbean and, mostly recently, Argentina. Our international presence would grow to almost 1,000 restaurants if all store commitments currently on the books were to be fulfilled. That number of commitments will increase as we layer on development deals for new markets currently under negotiation and expand agreements with existing franchisees."
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 26 other countries and U.S. 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 International, Inc.
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