MIAMI — Burger King Corp. has awarded development rights in Colombia for the cities of Medellin and Cali to KINCO S.A, the company announced. The first Burger King restaurant is expected to open during the first half of 2008 in Medellin.
Additional restaurant openings in Medellin and Cali are scheduled during the next two years.
"Colombia is a key market for the continued growth of the Burger King brand in Latin America, and is an important piece of the company's global development strategy," said Armando Jacomino, president, Latin America, Burger King Corp. "We are excited to work with KINCO, a business known for strong, experienced restaurateurs, an operational focus, and extensive consumer knowledge."
The Burger King brand has a strong consumer following throughout Latin America with a presence in 26 countries across the region and 14 years of positive comparative sales growth. During fiscal 2007, the Latin America region added a net 95 restaurants for a total of 903 restaurants, up 12 percent from fiscal 2006. The company expects to reach the 1,000 restaurant milestone in fiscal 2008.
