Arby's Restaurant Group, Inc. (ARG) announced today development agreements with new and existing franchisees.
"These are exciting times for the Arby's Brand," said George Condos, President & COO, Arby's Restaurant Group, Inc. "Our sales momentum and increased pipeline of innovative products have positioned Arby's for continued growth. Our franchisees are equally passionate about expanding the Brand's presence and recognize the big opportunities that lie ahead."
ARG recently sold 14 company-operated restaurants in Tampa, FL to Mosaic Investments, Inc. (Mosaic), a fully integrated investment firm based in Atlanta. In addition to remodeling existing locations slated to commence at the end of 2014, Mosaic has committed to build 13 new Arby's restaurants in the Tampa area over the next nine years.
In addition, Arby's largest franchisee, United States Beef Corporation, has signed a development agreement to open 38 new Arby's restaurants in the Colorado market over the next seven years. U.S. Beef Corporation, a franchisee with the Arby's system since 1969 – just five years after the brand was founded – recently purchased 48 Arby's in Colorado, Idaho and Wyoming, bringing their total to 323 restaurants.
Also signing development agreements were Love's Country Stores, Inc. and the Army and Air Force Exchange Service. Loves has been a franchisee with the Arby's system since 1999. They currently own and operate 48 Arby's restaurants in their Travel Stops throughout Alabama, Arizona, California, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, Missouri, Nebraska, Nevada, New Mexico, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, and Virginia.
The Exchange opened its first Arby's location in 2010 at Ft. Bliss in Texas. Since then, the Exchange has developed ten additional Arby's, including a second at Ft. Bliss in 2013, as well as locations at Ft. Benning, Ft. Carson, Ft. Meade, Nellis Air Force Base, Edwards Air Force Base, Hill Air Force Base, Ft. Eustis, Joint Base San Antonio-Lackland and Ft. Stewart.
In total, Arby's has 211 development commitments for new restaurants globally as of Q1 2014.
Logos, product and company names mentioned are the property of their respective owners.