Wendy's plans major expansion in Argentina
Jan. 27, 2011
by Eric Schroeder
ATLANTA — Wendy’s/Arby’s International Inc., a subsidiary of Wendy’s/Arby’s Group, Inc., has reached agreement with Desarrollos Gastronomicos S.A. (DEGASA) to develop 50 Wendy’s restaurants in Argentina over the next 10 years, with the first location to open this year in Buenos Aires.
DEGASA is a private investment company with investors that control D&G, a company that operates and franchises Havanna Cafe, a quick-service coffee chain with more than 180 outlets in Argentina. Havanna Cafe, the largest coffee retailer in Argentina, recently expanded to nine additional countries in Latin America and Europe, with 68 outlets.
“Argentina is the latest example of the meaningful progress that we are making in the acceleration of our international expansion efforts,” said Roland Smith, president and chief executive officer of Wendy’s/Arby’s Group.
Guillermo Stanley, a spokesperson for DEGASA, said the agreement is a substantial step forward in its strategy of creating one of the leading food service operators in Latin America.
“We are enthusiastic about the opportunity to bring Wendy’s to Argentina,” Mr. Stanley said.
Since June 2009, Wendy’s/Arby’s Group subsidiaries have reached long-term development agreements with franchisees for Argentina, the Middle East and North Africa, Singapore, Turkey, Russia and the Eastern Caribbean. The company also is pursuing potential opportunities in Japan, China, Brazil and other key international markets.