Wendy's Entering Brazil Market Through Joint Venture
Flagship Restaurants Scheduled To Open In São Paulo Soon
DUBLIN, Ohio - June 27, 2016 // PRNewswire // - The Wendy's Company (NASDAQ: WEN) today announced its upcoming entry into Brazil, with plans for significant restaurant expansion over time. This growth will be driven through Wendy's Brazil, a joint venture formed in 2015 between affiliates of Infinity Services and Starboard, one of Wendy's® largest U.S. franchisees, and a subsidiary of The Wendy's Company.
Based in São Paulo, Infinity Services has successfully brought several well-known restaurant brands to Brazil in recent years. Starboard, led by veteran Wendy's franchisee Andrew Levy, Chief Executive Officer, and Marcos Silva, President, operates 182 Wendy's restaurants in nine states.
"We choose São Paulo for the Wendy's introduction because it is the main financial and gastronomic capital of the country," said Marcel Gholmieh, Chief Executive Officer, Wendy's Brazil and Infinity Services. "Our initial objective is to create flagship restaurant locations, establish the Wendy's brand and then, longer-term, start thinking about potential partnerships with local groups in other areas of Brazil."
"We are pleased to partner with two highly capable operators who have a growth mindset, proven restaurant experience and a strong customer focuses," said Bob Wright, Executive Vice President, Chief Operations Officer and International, The Wendy's Company. "We believe this joint collaboration will provide a springboard for growth. Starboard has a deep knowledge of Wendy's operations and what it takes to run a successful Wendy's restaurant, while Infinity Services is immersed in the Brazilian market and culture.
"Brazil is one of the key global markets where we see considerable potential, and where we are investing additional energy and resources as part of our 'narrow and deep' international strategy. From the start, we want to ensure our restaurants in Brazil truly stand out in the minds of consumers in terms of food, service and atmosphere, and that we give them 'a cut above' experience they will be excited to tell others about."
About The Wendy's Company
The Wendy's Company is the world's third-largest quick-service hamburger company. The Wendy's system includes approximately 6,500 franchise and Company-operated restaurants in the United States and 28 countries and U.S. territories worldwide. For more information, visitwww.aboutwendys.com.
SOURCE The Wendy's Company