Arby’s Inks Development Agreement for 25 New Restaurants in Kuwait & Saudi Arabia Momentum for Future International Expansion Grows
ATLANTA - May 24, 2016 - (BUSINESS WIRE) - Arby’s Restaurant Group, Inc. (ARG), parent company of the franchisor of the Arby’s brand, has announced an international franchise development agreement with Al-Kharafi Global for General Trading & Contracting Company-WLL (Kharafi Global), to open 25 new Arby’s restaurants in the State of Kuwait and Kingdom of Saudi Arabia over the next seven years. This news follows a strong year of development for Arby’s in 2015 with 69 new restaurant openings globally along with agreements for 138 new restaurants announced in Q1 2016.
“We are excited about the agreement with Kharafi Global as we turn our attention to bringing the Arby’s brand to new markets around the world.,” said Paul Brown, Chief Executive Officer, Arby’s Restaurant Group, Inc. “We welcome Kharafi Global and their experienced restaurant development and operations team into the Arby’s family and have the utmost confidence in their success.”
“We are thrilled to bring the Arby’s brand to guests in Kuwait and Saudi Arabia,” said Haidar Al Naqeeb, Managing Director and Co-Founder, Kharafi Global. “With Arby’s continued strong sales performance, outstanding leadership and robust menu of delicious, Fast Crafted™ products, we believe the future for Arby’s is incredibly bright.”
Arby’s remains on track with its goal to surpass $4 billion in total system-wide same-store sales (SSS) by the end of 2018. In Q1 2016, the Brand announced U.S. System SSS growth of 5.8 percent1 in the first quarter of 2016. Arby’s SSS growth more than doubled a representative sample of the larger Quick Serve Restaurant (QSR) chains2, representing 22 consecutive quarters of SSS growth and 13 consecutive quarters of industry outperformance. Arby’s also reported U.S. System two-year SSS of 15.3 percent in Q1 2016.
1 Source: Internal ARG data; Includes estimates for unreported franchisees at time of release.
2 Source: The NPD Group/SalesTrack® Weekly reports same store sales collected weekly from 45 of the larger Quick Service Restaurant chains during Q1 2016 ending April 3, 2016.
Arby’s, founded in 1964, is the first nationally franchised sandwich restaurant brand, with more than 3,300 restaurants worldwide. The Arby’s brand purpose is “Inspiring Smiles Through Delicious Experiences™.” Arby’s® restaurants feature Fast Crafted™ service, a unique blend of quick-serve speed and value combined with the quality and made-for-you care of fast casual. Arby’s Restaurant Group, Inc. is the parent company of the franchisor of the Arby’s brand and is headquartered in Atlanta, Ga. Visit Arbys.com for more information.
With the current growth and momentum of the Brand, Arby’s is actively seeking new franchisees. To learn more about available markets and requirements, visit DiscoverArbys.com.