Arby's Restaurant Group Inc. today announced development agreements with new and existing franchisees. They include:
ARG recently sold 14 company-operated restaurants in Tampa, Fla., to Mosaic Investments Inc. 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 throughout the next nine years.
Arby's largest franchisee, United States Beef Corporation, has signed a development agreement to open 38 new Arby's restaurants in the Colorado market within the next seven years. U.S. Beef Corporation recently purchased 48 Arby's in Colorado, Idaho and Wyoming, bringing its total to 323 restaurants.
Love's Country Stores Inc. has signed a development agreement. Love's has been an Arby's franchisee since 1999 and currently owns and operates 48 Arby's restaurants in 23 states.
The Army and Air Force Exchange Service has also signed an agreement. The exchange opened its first Arby's location in 2010 at Ft. Bliss in Texas. Since, it has developed 10 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.
"These are exciting times for the Arby's brand," President and COO George Condos said in a news release. "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."