Arby's Signs Development Agreements for 35 New Restaurants in Thirteen States
Arby's Restaurant Group, Inc., a subsidiary of Triarc Companies, Inc. (NYSE: TRY, TRY.B), announced today that it has signed development agreements with new and existing franchisees to open an additional 35 Arby's(R) restaurants throughout the U.S.
The commitments, which are with five new and eight existing franchisees, call for the development of Arby's restaurants in California, Kansas, Kentucky, Louisiana, Maryland, Michigan, Missouri, Oklahoma, Pennsylvania, Tennessee, Texas, Virginia, and West Virginia.
'I am extremely excited about this latest round of signings,' said Tom Garrett, President and COO, Arby's Restaurant Group, Inc. 'This continued momentum falls right in line with our long term expansion goals of reaching more Arby's enthusiasts from coast to coast.'
Development agreements signed with existing franchisees in the first quarter of 2008 are highlighted below:
Jeff Davis, CEO of United States Beef Corporation, Arby's largest franchisee with 252 restaurants across the United States, has agreed to open 11 more Arby's restaurants in Kansas, Missouri and Oklahoma.
Dennis Wells, who operates 24 Arby's throughout the state of Texas, has committed to open four more restaurants in Austin and San Antonio.
Joe Don Pulliam, an Arby's franchisee for 24 years, currently owns and operates 15 restaurants in Texas and Louisiana. Pulliam has agreed to open three additional restaurants in Lafayette, Louisiana.
Daniel Ream, of Armore Development Company, owns two Arby's restaurants in Lewisburg and Fayetteville, West Virginia. Ream recently signed on to open a third Arby's restaurant in Bridgeport, West Virginia.
CarolineCo, L.P. d/b/a Love's Country Stores, Inc., an Arby's franchisee for over nine years, operates 36 Arby's throughout the U.S. Love's recently signed a development agreement to open an Arby's in Morehead, Kentucky.
Chris Cooper, a franchisee since 2006, has signed on to open one Arby's restaurant in Ironwood, Michigan. Cooper currently operates four Arby's in Escanaba, Iron Mountain and Manistique, Michigan.
SMB Restaurants, LLC, currently owns and operates 14 Arby's restaurants throughout Virginia. SMB has agreed to develop one additional Arby's in Driver, Virginia.
Robert Sloan, a franchisee since 1992, currently owns and operates an Arby's restaurant in the Nashville market. Sloan's second Arby's is scheduled for Gordonsville, Tennessee.
Arby's is pleased to welcome the following new franchisees to the system:
Juancho Francisco has committed to open three Arby's restaurants in Los Angeles.
Ken Kallman has agreed to develop three Arby's restaurants in Orange and Riverside Counties in California.
Todd Matthews has agreed to open three Arby's restaurants in Orange, CA.
Sam Settimo has agreed to open two Arby's restaurants in Bowie and Glendale, MD.
Joseph Degnan has signed on to develop one Arby's in West Chester, PA.
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