 |
March 10, 2008 |
|
|
|
 |
BURGER KING: To Open New Restaurant in Curacao Burger King Corp. has awarded development rights in Curacao to the franchisee group JDA Foods B.V. The first BURGER KING(R) restaurant is expected to open during the first half of 2008 in the capital city of Willemstad. This restaurant, a freestanding building located in the heart of the commercial district of Salinja, will include a state-of-the-art drive thru and a playground for kids. JDA Foods B.V. plans to open additional restaurants during the next five years. “We believe that Curacao is an attractive market with excellent growth potential for the BURGER KING(R) brand,” stated Armando Jacomino, president, Latin America & Caribbean, Burger King Corp. “We are excited about this Caribbean entry as we strive to touch every island in this sub-region. We are also eager to work with JDA Foods B.V., a business known for its strong quick service restaurant experience and commitment to excellent customer service." John-Henry Every, operating partner for JDA Foods B.V., said, "We know Curacao consumers well and we are confident that they will truly enjoy the taste of the hot and fresh, flame-broiled WHOPPER(R) sandwich made-to-order and other BURGER KING(R) menu offerings. We are excited to have the opportunity to launch the BURGER KING(R) brand in Curacao and allow consumers to HAVE IT YOUR WAY(R).” The BURGER KING(R) brand currently enjoys a strong consumer following throughout Latin America and the Caribbean with a presence in 25 countries across the region and 14 years of positive comparable sales growth. During the first half of fiscal 2008, the Latin America and Caribbean region added a net 54 restaurants for a total of 955 restaurants. Headquartered in Miami, Florida, The Burger King -- http://www.burgerking.com/ -- operates more than 11,000 restaurants in more than 60 countries and territories worldwide. Approximately 90% of Burger King restaurants are owned and operated by independent franchisees, many of them family owned operations that have been in business for decades. Burger King Holdings Inc., the parent company, is private and independently owned by an equity sponsor group comprised of Texas Pacific Group, Bain Capital and Goldman Sachs Capital Partners. Burger King Corp. operates restaurants in the Latin American, Caribbean and Mexican Region. The company's first international restaurant opened in 1963 in Puerto Rico. Since 1994, Burger King has opened more than 300 restaurants in the Latin American region, producing some of the strongest comparable store sales growth for the brand around the world. Burger King(R) restaurants in Latin America serve approximately 1,600 customers per day each, making them some of the highest volume restaurants in the system. In the Caribbean, BURGER KING(R) restaurants are located in Aruba, Bahamas, the Dominican Republic, Grand Cayman, Jamaica, Puerto Rico, St. Lucia, St. Maarten and Trinidad & Tobago. * * * As reported in the Troubled Company Reporter-Latin America on Dec. 3, 2007, Moody's Investors Service affirmed the Ba2 corporate family rating of Burger King Corporation. Moody's also affirmed the Ba2 rating assigned to the company's US$250 million senior secured term loan A, US$1.1 billion senior secured term loan B, and US$150 million senior secured revolving credit facility. In addition, Moody's changed the outlook for Burger King to stable from negative. |
|
|
||
|
Today's Top Stories have been selected from the Troubled Company Reporter - Latin America. To receive the Full TCR-LA please CLICK HERE.
