Arby's (US) Plans 100 Restaurants in South Korea
29 Aug 2018 - Arby’s Restaurant Group Inc. is planning its biggest expansion yet in Asia.
The Atlanta-based restaurant chain announced Aug. 21 it has signed a development agreement to build 100 new Arby’s locations in South Korea. The restaurants are expected to start opening in 2019. S. Fresh Co. Limited is the franchisee.
“We are excited that S. Fresh will help bring the Arby’s brand to new guests throughout South Korea,” said Tim Murphy, president and managing director of international for Arby’s parent company, Inspire Brands. “We know that Koreans will enjoy experiencing the unique flavors, original recipes and a variety of high quality protein choices that Arby’s has to offer.”
The Wendy's Co. said last week it accepted an offer from Inspire Brands, the holding company of Roark Capital, to sell its 12.3 percent ownership interest in Arby's for $450 million. Roark Capital bought a majority share of Arby's from Wendy's in 2011 for about $130 million.
Arby’s currently operates more than 3,400 restaurants across the United States, Canada, Kuwait, Qatar, Turkey, South Korea, Japan, and Egypt, where the brand recently opened the first three of 50 new restaurants.
Atlanta Business Chronicle