CKE to expand in Latin America and Caribbean
Feb. 14, 2012
CARPINTERIA, CALIF. — CKE Restaurants, Inc. has entered a five-year development agreement with Airport Shoppes Corp., a subsidiary of International Meal Co., to open about 50 Carl’s Jr. restaurants in Colombia, the Dominican Republic, Panama and Puerto Rico.
“Latin America and the Caribbean have a wealth of untapped market potential for a restaurant brand like Carl’s Jr. that offers best-in-class products, services and facilities,” said Ned Lyerly, executive vice-president of global franchise development for CKE Restaurants. “With its collective knowledge of these markets, established presence and track record of successful growth, IMC is the perfect partner to bring the quality of the Carl’s Jr. brand to these regions.”
IMC is a leading casual and quick-service operator in Latin America. CKE’s global network has expanded to 3,219 restaurants in 26 countries with annual sales of $3.4 billion.