EAT Brinker International Inc

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/

Copyright