Wendy's/Arby's Group Announces Development Agreement with Wenphil Corporation
Franchisee Commits to Expand Brand to 75 Restaurants in the Philippines
February 23, 2011
ATLANTA (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.
Media and Investors:
Wendy's International, Inc.
Bob Bertini, 678-514-6902
bob.bertini@wendysarbys.com
or
Kay Sharpton, 678-514-5292
kay.sharpton@wendysarbys.com
or
Wenphil Corporation:
Jason Lim, 63-2-809-5506