The Wendy's Company Announces New Development Agreements in the Central Asia Region
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The Wendy's Company Announces New Development Agreements in the Central Asia Region

The Brand Strategically Collaborates with Kusto Group and Global Investors Limited to Accelerate Growth Plans in The Republic of Georgia, Uzbekistan and Kazakhstan

DUBLIN, Ohio, June 24, 2021 // PRNewswire // - The Wendy's Company (Nasdaq: WEN), the owners of Kusto Group, and Global Investors Limited ("Wissol Group") announced today three strategic development agreements to expand Wendy's® brand presence in the Central Asia Region over the next nine years.

Wendy's® was founded in 1969 by Dave Thomas in Columbus, Ohio. Dave built his business on the premise, “Quality is our Recipe®,” which remains the guidepost of the Wendy’s system. Wendy’s is best known for its made-to-order square hamburgers, using fresh, never frozen beef*, freshly-prepared salads, and other signature items like chili, baked potatoes and the Frosty® dessert. The Wendy’s Company (Nasdaq: WEN) is committed to doing the right thing and making a positive difference in the lives of others. This is most visible through the Company’s support of the Dave Thomas Foundation for Adoption® and its signature Wendy’s Wonderful Kids® program, which seeks to find every child in the North American foster care system a loving, forever home. Today, Wendy’s and its franchisees employ hundreds of thousands of people across more than 6,700 restaurants worldwide with a vision of becoming the world’s most thriving and beloved restaurant brand.

*Fresh beef available in the contiguous U.S., Alaska, and Canada.

Together, these partners will help deliver on Wendy's strategic growth pillar of expanding the brand's footprint, bringing the Wendy's presence to a total of 65 restaurants across The Republic of Georgia, Uzbekistan and Kazakhstan by 2030. To initiate the development plans, Kusto Group and Wissol Group opened the first two Wendy's restaurants in Kazakhstan located in the historic center of Almaty earlier this year, along with opening a new drive-thru only restaurant in May located on a Wissol gas station in the Gelovani district of Tbilisi, Georgia.

Abigail Pringle, President, International and Chief Development Officer of The Wendy's Company, said, "We're excited to expand Wendy's presence across the Central Asia Region with world-class, experienced franchisees that have strong operations experience, local development expertise and a proven track record for growing brands internationally. Kusto Group and Wissol Group, and their owners and affiliates, share our values and passion for quality and exceptional customer service. We firmly believe that our great-tasting, signature menu items – featuring made-to-order hamburgers, premium chicken sandwiches, fresh salads, fries, chili and Frosty® desserts – will appeal to consumers who are looking for more options and high-quality food at a great price."

Yerkin Tatishev, Chairman of the Board of Directors of Kusto Group, said, "Customers should expect high-quality, fresh products and ingredients from Wendy's. It is very important to our organization that menu items are prepared and sourced locally, working with farmers and suppliers in both Kazakhstan and Uzbekistan to deliver on Wendy's elevated menu standards."

Dr. Samson Pkhakadze, President of Wissol Group said, "We've been a proud Wendy's franchisee since we opened the first Wendy's restaurant in Georgia in 2014. We are thrilled to grow the Wendy's brand in Georgia, and to partner with Kusto Group, and their owners and affiliates, to bring Wendy's to Kazakhstan and Uzbekistan after making the brand a favourite restaurant in Georgia. Wendy's is a well-established, iconic global brand, and is known for quality. We have every confidence that the brand will also be successful and beloved by customers in the Central Asia Region."

Forward Looking Statements

This release contains certain statements that are not historical facts, including statements regarding the Company's intention to expand its presence in The Republic of Georgia, Uzbekistan, and Kazakhstan in collaboration with Kusto Group and Wissol Group. Those statements, as well as statements preceded by, followed by or that include the words "will," "may," "believes," "intends," "plans," "expects," "anticipates," or similar expressions constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). The forward-looking statements are based on the Company's expectations at the time, speak only as of the dates they are made and are susceptible to a number of risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from those expressed or implied in any forward-looking statement. These factors include, but are not limited to, the factors identified in the "Special Note Regarding Forward-Looking Statements and Projections" and "Risk Factors" sections of our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q and in our other filings with the Securities and Exchange Commission. For all forward-looking statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Reform Act.

SOURCE The Wendy’s Company

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