Wendy’s/Arby’s Group Inc. to open 180 dual-branded restaurants in Russia in next 10 yearsBy AP
Tuesday, August 10, 2010
Wendy’s/Arby’s to open 180 restaurants in Russia
ATLANTA — Wendy’s/Arby’s Group plans to open 180 dual-branded Wendy’s and Arby’s restaurants in Russia over the next 10 years.
The company’s international affiliate signed a deal with Wenrus Restaurant Group Ltd., an affiliate of Food Service Capital, in the Russian Federation. Terms of the deal to run the company’s restaurants were not disclosed in a news release Tuesday.
Wendy’s/Arby’s CEO Roland Smith said the move is key to the company’s growth because Russia has long-term expansion potential.
Food Service Capital runs 28 restaurants, including Goodman Steak Houses in Moscow, Kiev, London and elsewhere.
This marks the fourth and largest major international development agreement to date for Wendy’s/Arby’s Group Inc. since the two restaurant chains combined in September 2008.
Wendy’s/Arby’s Group Inc., based in Atlanta, has struggled domestically in the weak economy as people eat out less. So expanding abroad is a way to increase sales.
In June, the company announced 100 Arby’s restaurants in Turkey, and last year it announced 80 dual-branded restaurants in the Middle East/North Africa, and 35 Wendy’s in Singapore.
The first international dual-branded Wendy’s and Arby’s opened in May in Dubai.
Shares of Wendy’s/Arby’s fell 3 cents to $4.41 in morning trading Tuesday.
Tags: Atlanta, Contracts And Orders, Eastern Europe, Europe, Georgia, North America, Russia, United States