Spicy Pickle (US) Announces Middle East Expansion
18 Oct 2011 - Spicy Pickle Franchising, Inc. the Denver-based fast-casual franchising company, announced today that it has entered into a binding letter of intent with a new franchisee and developer for seven new Spicy Pickle? Sandwich Company locations in the State of Qatar. Representing the company's first foray into the booming Middle East nation, the first Spicy Pickle location in Doha, Qatar is scheduled to open for business in April 2012.
"We are very fortunate to have found really great partners to launch our Middle East expansion plan," said Mark Laramie, Spicy Pickle's Chief Executive Officer. We have been working diligently for the last year preparing for this exciting growth opportunity. This part of the Middle East, particularly Doha, Qatar, is a great place for Spicy Pickle expansion, and we expect our development there to accelerate existing interest in the surrounding region.
"Although expanding internationally can be challenging, our management team has years of international restaurant franchising experience with various fast casual restaurant brands. We have expanded brands like this before, and we are confident in our ability to execute our plan effectively. It is an important development step for Spicy Pickle."
To date, the parties have entered into a binding letter of agreement with plans to finalize a formal development agreement by the end of the month. "We couldn't be happier with our new partners in Qatar, and are eager to open our first unit in Doha in Spring 2012," said Peter Wright, Chief Development Officer for Spicy Pickle. The principals of Food Fabulous, WLL, Salma Maher and Hanan El Basha, the new Spicy Pickle Sandwich Company franchise developers, are residents of Qatar and know the nation well. "With the ongoing surge in growth in the State and the awarding of the 2022 FIFA World Cup, Qatar's consumer outlook remains positive over the next ten years. Many believe Qatar could challenge the UAE (especially Dubai) as the Gulf region's most exciting consumer market," said Ms. Maher. Furthermore, "Qatar, the wealthiest state in the Gulf region in terms of per capita GDP, has made great progress in the food and beverage sector, and continues to create great opportunities for entrepreneurs," added Ms. El Basha. "We have much to be excited about with this new partnership," concluded Mr. Laramie.
Spicy Pickle Franchising, Inc.