Alghanim Industries and The Wendy's Company ('Wendy's'®) (NASDAQ: WEN), announced today the signing of a Master Franchise Agreement aimed at expanding the Wendy's brand in the Middle East. This deal reinforces Alghanim Industries' strategy to partner with international food and beverage franchises and build on the company's previous successful acquisition of Costa Coffee (Kuwait) in 2013.
Alghanim Industries acquired the rights to develop Wendy's restaurants across the Middle East North Africa (MENA) region from Alamar Foods, a Saudi-based company owned jointly by Al Jammaz Group and the Carlyle Group. The value of the deal remains undisclosed. Alghanim Industries has acquired all operational outlets in the UAE with plans to open additional stores across MENA over the next 10 years. Part of the expansion in the region includes opening stores in Alghanim Industries home market, Kuwait, which has among the highest consumption of fast food per capita in the MENA region.
"Alghanim Industries has a strong track-record of developing successful businesses with huge growth potential that meet the needs of the region's expanding consumer base," said Kutayba Yusuf Alghanim, Chairman, Alghanim Industries. "We remain committed to continued growth, by introducing leading food and beverage offerings, and enhancing the consumer experience in this attractive sector." Wendy's joins Alghanim Industries' portfolio of leading global brands, including American Express, British Petroleum, Colgate-Palmolive, General Motors, Honda, Mars, Mondelez, Philips, Toshiba, Hitachi, and Whirlpool.
Established in 1969, Wendy's -- whose slogan is "Quality is Our Recipe" -- is widely recognized for its great-tasting hamburgers with square beef patties. The restaurant chain also is known for its iconic Frosty™ dessert, along with an array of signature menu options including premium chicken sandwiches and salads. Wendy's prides itself on being "A Cut Above" when it comes to offering fresh, high quality products at affordable prices.
"We are excited to expand and develop the world's third-largest quick-service hamburger company in our region. The Wendy's Company has a demonstrated track-record of leadership through product innovation that has contributed to its fast-paced growth," said Omar Kutayba Alghanim, Chief Executive Officer, Alghanim Industries. "Our presence in 40 countries, across multiple industries equips us with the reach and the know-how to develop Wendy's in the MENA region successfully. When it comes to exceeding customer expectations Alghanim Industries and Wendy's share the same philosophy – we do not compromise."
"We are thrilled to partner with an outstanding organization like Alghanim Industries to accelerate the growth of the Wendy's brand in the important MENA region," said Darrell van Ligten, President, International, The Wendy's Company. "Alghanim Industries' leadership, resources and experience with leading consumer focused brands will be a tremendous asset as we work to build Wendy's presence in key markets around the world."
About Alghanim Industries
Alghanim Industries is one of the largest, privately-owned companies in the Gulf region. Originally founded in 1932 by Yusuf Ahmed Alghanim in Kuwait, the company has since grown into a multi-billion dollar conglomerate, employing over 14,000 people in 30 businesses, and present in 40 countries across the Middle East, Eastern Europe and Asia.
Alghanim Industries is a market leader in almost every major sector of its operations. These sectors include engineering, retail, automotive sales and service, insulation and pre-engineered steel building structures, logistics and warehousing, fast moving consumer goods, food & beverage, oil & gas, office automation, advertising, insurance, consumer credit and travel. This range of business activities has allowed it to develop long-standing relationships with more than 300 global brands, including household names such as AC Delco, American Express, Avis, British Airways, British Petroleum, Cathay Pacific, Daewoo, General Motors, Honda, Saint-Gobain, Toshiba and Whirlpool. Alghanim Industries has also created successful regional businesses such X-cite by Alghanim Electronics, a leading electronics player in the region, and Safat Home, a lifestyle and home furniture concept.
www.alghanim.com
