New Franchisee Signs Development Agreement
DUBLIN, OHIO, October 12 /CNW/ - Wendy's International, Inc. (NYSE: WEN)
and Berjaya Corporation Berhad today announced that they have signed a
development agreement to build Wendy's restaurants in Malaysia. Berjaya,
through its wholly-owned subsidiary, Nadi Klasik Sdn Bhd, has been granted the
right to develop and operate Wendy's restaurants in Malaysia. Berjaya plans to
open the first of these restaurants in Kuala Lumpur in late 2007 or early 2008
and will continue development in the Klang Valley region and other cities over
the next 10 years. The new franchisee expects to open more than 70 Wendy's
restaurants in Malaysia.
"We are pleased to enter a franchise partnership with Berjaya, a company
that is well respected in Asia and worldwide," said Dave Near, Chief
Operations Officer, Wendy's International, Inc. "Berjaya and its Chairman and
Chief Executive Officer Tan Sri Dato' Seri Vincent Tan have a great deal of
experience in successfully operating several well-known restaurant brands."
Berjaya has extensive experience in developing and managing quick service
restaurants in Malaysia and currently operates the Starbucks and Kenny Rogers
Roasters franchises there, as well as Borders Books stores. Based in Kuala
Lumpur, Berjaya is a diversified, publicly traded company with a wide variety
of core businesses including, hotels and resorts, food and beverage companies,
financial services, consumer marketing and manufacturing, among others.
"The inclusion of Wendy's brand into our Group's business is a strategic
move that we had planned for some time. It complements the wide variety of
businesses that we have," said Tan Sri Dato' Seri Vincent Tan. "To ensure
success, we have included several well known and experienced people on the
Board as well as in key management positions."
This agreement is part of Wendy's plan to focus development efforts in
key markets outside of North America. "We are taking a disciplined approach to
growing our international business, preparing our support infrastructure, and
conducting detailed market analyses before expanding into new markets," said
James C. Hartenstein, Wendy's Senior Vice President of International. "This is
a great opportunity to expand our Wendy's brand in Asia."
Wendy's recently established an office in Hong Kong to serve franchise
partners, suppliers and staff throughout the region, and prepare for expansion
into new markets. Wendy's opened its first restaurant in Asia in 1980 and has
approximately 150 restaurants in the Asia Pacific region.
Wendy's International, Inc.
Wendy's International, Inc. is one of the world's most successful
restaurant operating and franchising companies, with more than 6,600 Wendy's
restaurants in North America and international markets. More information about
the company is available at www.wendys.com.
Berjaya Corporation Berhad
Berjaya Corporation Berhad is a company listed on the Malaysian Stock
Exchange, Bursa Malaysia Securities Berhad with interests in property
investment and development; vacation timeshare, hotels, resorts and recreation
development; consumer marketing and direct selling; financial services and
gaming. For more information, please log on to www.berjaya.com.
Safe Harbor Statement
Certain information in this news release, particularly information
regarding future development of new restaurants in Malaysia and the plans,
expectations and objectives of Wendy's management, is forward looking. Factors
set forth in Wendy's Safe Harbor under the Private Securities Litigation
Reform Act of 1995, in addition to other possible factors not listed, could
affect Wendy's actual results and cause such results to differ materially from
those expressed in forward-looking statements. Please review Wendy's Safe
Harbor statement at http://www.wendys-invest.com/safeharbor.
For further information:
For further information: Wendy's International Denny Lynch, 614-764-3553
OR Berjaya Corporation Berhad Judy Tan, 603-21491333