Denny’s Announces Additional Development Commitments In Canada And The Philippines
SPARTANBURG, S.C. - Oct. 29, 2018 // GLOBE NEWSWIRE // - Denny's Corporation (NASDAQ: DENN), one of the world's largest full-service family dining chains, today announced two new development agreements with franchisees in both Canada and the Philippines. As part of a new growth strategy, Denny's has provided each of these franchise groups the ability to accelerate growth as Development Agents. Through both an expansion of existing development commitments and development agent rights, these long-term, multi-year agreements will bring over 50 additional restaurants to these countries.
Denny’s Corporation entered into a multi-year franchise development agreement with Northland Properties, parent of our long-time franchisee Dencan. Since becoming a franchisee in 1990, Dencan has continued to develop and currently operates 59 restaurants in Canada. The new development agreement with Northland Properties expands the previous development commitment by over 30 additional restaurants.
Denny’s Corporation also amended the existing development agreement with The Bistro Americano Group, which has opened six Denny’s restaurants in the Philippines since becoming a franchisee in late 2015. The amendment expands The Bistro Americano Group’s existing development commitment by an additional 20 restaurants.
“We are pleased to see the continued positive demand for Denny’s in Canada and the commitment of a tenured franchisee like Northland Properties to meaningfully extend the scale of their portfolio of Denny’s restaurants,” stated John Miller, Denny’s President and CEO. “Additionally, the exciting growth enjoyed by our newer franchisee The Bistro Americano Group in the Philippines demonstrates the strength of the Denny’s brand beyond North America.”
Steve Dunn, Denny's Senior Vice President & Chief Global Development Officer, added, "Denny’s is one of the fastest growing family-dining chains across the globe, and it is very exciting to see franchise partners commit to expand their existing development commitments. We continue to have an active pipeline for growth as we further expand Denny’s international footprint."
Denny's Corporation is the franchisor and operator of one of America's largest franchised full-service restaurant chains, based on the number of restaurants. As of June 27, 2018, Denny’s had 1,720 franchised, licensed, and company restaurants around the world including 128 restaurants in Canada, Puerto Rico, Mexico, New Zealand, Honduras, the Philippines, Costa Rica, the United Arab Emirates, Guam, Curaçao, El Salvador, Guatemala, and the United Kingdom. For further information on Denny's, including news releases, links to SEC filings, and other financial information, please visit the Denny's investor relations website at investor.dennys.com.
Source: Denny's Corporation