Brinker International Partners With MRD and Hispania to Develop 14 New Restaurants in South Florida
16 Marzo 2006 - 10:00PM
PR Newswire (US)
DALLAS, March 16 /PRNewswire-FirstCall/ -- Master Restaurant
Developers (MRD), with backing from Hispania Capital Partners,
signed an agreement with Brinker International, Inc. (NYSE:EAT) to
purchase two corporate-owned restaurants and develop 14 new ones in
South Florida. Development will include 10 On The Border Mexican
Grill & Cantina restaurants over the next six years. MRD will
also construct four new Chili's Grill & Bar locations. In the
current fiscal year, Brinker has signed domestic and international
franchise agreements for several brands covering eight existing
restaurants as well as development commitments for an additional 94
restaurants to be built over the next five years. "Brinker has
enjoyed a long-standing relationship with MRD and is excited about
the opportunity to broaden this franchise agreement," said Chuck
Sonsteby, chief financial officer for Brinker International.
"Ongoing efforts to sell certain company-owned restaurants and
enter into development agreements with strong franchise partners
like MRD, combined with further company-restaurant expansion and
disciplined capital allocation, will increase cash flow and return
on invested capital, enhancing shareholder value." "The Chili's
restaurants we currently own have been extremely successful," said
Jose Alberni, chief financial officer for MRD. "I look forward to
expanding these brands and have no doubt this future partnership
will reap great rewards for both companies." MRD has been a Brinker
franchise partner for nearly six years and currently owns two
Chili's restaurants in Miami as well as several other quick-service
brands. Hispania Capital Partners is the leading private equity
investment firm exclusively focused on companies targeting the
rapidly growing Hispanic demographic. Brinker International, Inc.,
is one of the world's leading casual dining restaurant companies,
serving more than 1 million guests daily. Founded in 1975 and based
in Dallas, Texas, Brinker owns or franchises more than 1,600
restaurants in 24 countries and employs more than 100,000. Brinker
restaurant brands include Chili's Grill & Bar, Romano's
Macaroni Grill, On The Border Mexican Grill & Cantina and
Maggiano's Little Italy. The company was named one of FORTUNE
Magazine's Most Admired Companies in 2006 and in 2005 was honored
by the magazine as one of the Top 50 Employers for Minorities and
the Top 50 Employers for Women. For more information visit
http://www.brinker.com/ . DATASOURCE: Brinker International, Inc.
CONTACT: Stacey Calbert, Media Relations of Brinker International,
Inc., +1-800-775-7290 Web site: http://www.brinker.com/
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