DUBLIN, Ohio, March 31 /PRNewswire-FirstCall/ — Wendy’s International,
Inc. (NYSE: WEN) announced today it has signed development agreements to
open Wendy’s(R) restaurants in two major Mexico cities – Monterrey and
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Under these agreements, two new franchisees will build and operate more
than 60 restaurants over the next seven years. The first of these
restaurants is expected to open before year-end.
Wendy’s existing franchisee, Wenco-Mexico S.A., currently operates 12
restaurants in the northern Mexico cities of Ciudad Juarez and Chihuahua.
“Mexico is an important market for the Wendy’s brand, and we are
pleased to enter into these new franchise relationships,” said Chief
Operations Officer Dave Near. “These agreements are part of Wendy’s
long-term plan to focus development efforts in specific key markets outside
of the United States. We have been developing and preparing our support
infrastructure, while conducting detailed market analyses of various global
markets as part of a disciplined approach to grow our International
New franchisees are experienced business operators
The new Mexico City franchise is an affiliate of Corpogas S.C., and the
new Monterrey franchise is Grupo Refran.
Corpogas, based in Mexico City, is headed by Ricardo A. Vega Serrador,
whose family has been in the restaurant business since 1959. Under his
leadership, the company has grown from a single restaurant to a
conglomerate that includes a chain of fine dining restaurants under the
Grupo Castellano brand. Corpogas is one of the largest gasoline and
convenience store retailers in Mexico, with more than 100 locations. They
are the exclusive representatives and distributors for Ferrari and Maserati
in Mexico. In addition, Corpogas operates a commissary and food service
Grupo Refran, of Monterrey, has operated Sirloin Stockade restaurants
for over 15 years and they currently have 12 locations in Mexico. Grupo
Refran was also part of the group that brought Applebee’s restaurants to
Mexico. Grupo Refran’s CEO, Jorge Emilio Garza Trevino, is a prominent
businessman in Monterrey, serving on various corporate boards and
philanthropic institutions. He is currently a District Governor of Rotary
International in Mexico. Grupo Refran also owns and operates commercial
properties, retail stores, an automobile dealership and a convention venue
“Both Corpogas and Grupo Refran are proven restaurant operators with
extensive distribution experience,” said James C. Hartenstein, Wendy’s
senior vice president, international. “These franchises, along with Wendy’s
existing franchise in Mexico, will provide consumers with more
opportunities to experience the quality, freshness and variety offered by
Wendy’s has more than 190 restaurants in the Latin America/Caribbean
region in 14 markets.
Wendy’s international division also operates in the Asia/Pacific region
where its most recent new international market, Malaysia, was announced
late last year.
Wendy’s International, Inc.
Wendy’s International, Inc. is one of the world’s most successful
restaurant operating and franchising companies, with more than 6,600
Wendy’s restaurants in the United States, Canada and international markets.
More information about the company is available at www.wendys.com.
Safe Harbor Statement
Certain information in this news release, particularly information
regarding future development of new restaurants and the plans, expectations
and objectives of Wendy’s management, is forward looking. Factors set forth
in Wendy’s Safe Harbor under the Private Securities Litigation Reform Act
of 1995, in addition to other possible factors not listed, could affect
Wendy’s actual results and cause such results to differ materially from
those expressed in forward-looking statements. Please review Wendy’s Safe
Harbor statement at http://www.wendys-invest.com/safeharbor .
SOURCE Wendy’s International, Inc.