News

Carl's Jr. signs expansion deal in Latin America, Caribbean

February 14, 2012

CKE Restaurants Inc. has entered into a five-year development agreement with Airport Shoppes Corp., a subsidiary of International Meal Company (IMC), with plans to open approximately 50 Carl's Jr. restaurants in four new markets: Colombia, Dominican Republic, Panama and Puerto Rico.

IMC is a multi-brand casual and quick-service restaurant operator in Latin America with more than 200 company-owned restaurants and 8,000 employees in the Caribbean, Mexico and Brazil.

"Latin America and the Caribbean have a wealth of untapped market potential for a restaurant brand like Carl's Jr. that offers best-in-class products, services and facilities," said Ned Lyerly, EVP of global franchise development for CKE Restaurants. "With its collective knowledge of these markets, established presence and track record of successful growth, IMC is the perfect partner to bring the quality of the Carl's Jr. brand to these regions."

Francisco Javier Gavilán Martin, CEO of IMC, said that Carl's Jr. will be warmly welcomed in the markets.

"The company's heritage in premium-quality, great-tasting products and amenities such as all-you-can-drink beverages and partial table service make them impossible to resist," he said.

CKE Restaurants' global network has expanded to 3,219 restaurants in 26 countries. Carl's Jr. entered into a development agreement in January to expand the brand in the Bahamas. In December, the chain signed an agreement to open in Costa Rica. Carl's Jr. also made its debut in New Zealand and Canada in the summer of 2011. Other markets recently on the brand's radar include Turkey, Panama and Indonesia.

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