Printer Friendly

DALLAS-BASED RESTAURANT CHAINS PLAN INTERNATIONAL EXPANSION

DALLAS-BASED RESTAURANT CHAINS PLAN INTERNATIONAL EXPANSION
 DALLAS, Sept. 30 /PRNewswire/ -- Officers of Spaghetti Warehouse, Inc. (NYSE: SWH), and TGI Friday's Inc. today jointly announced an agreement in principle to complete a five-year agreement which would grant to Friday's master franchisee/sub franchisor rights to establish Spaghetti Warehouse restaurants in Europe, the Pacific Rim and Latin America. The transaction is subject to execution of definitive agreements.
 Citing Friday's international experience as a catalyst for the proposed arrangement, Louis P. Neeb, president of Spaghetti Warehouse, said, "This is a great opportunity to expand the Spaghetti Warehouse family concept into markets where the demand for American restaurants is high. Our Great Italian Food, All-American Fun dining experience should have broad appeal to families overseas."
 TGI Friday's was one of the first American full-service restaurants to implement international expansion plans and, since 1986, has opened 14 restaurants in locales such as the United Kingdom, Taiwan, Korea, Mexico and Puerto Rico.
 "We've been able to identify partners around the world who are committed to the full-service restaurant concept," explained Richard E. Rivera, president of TGI Friday's. "We believe that a quality restaurant such as Spaghetti Warehouse will be accepted internationally because it is a value-driven, family-oriented concept."
 Dallas-based Spaghetti Warehouse, a 20-year-old Italian restaurant chain, presently operates 26 company-owned restaurants in 14 states. Spaghetti Warehouse reported revenues of $56 million for the fiscal year ending July 4, 1992. It also is the franchisor of five similar restaurants in Canada through its recently acquired Canadian subsidiary, Old Spaghetti Factory Canada, Ltd.
 Dallas-based TGI Friday's operates, franchises and licenses more than 200 Friday's and 11 Dalts Grill restaurants in 36 states and six countries. Friday's systemwide sales through the second quarter of 1992 were nearly $333 million. It leads the restaurant industry in average sales per unit at $3.4 million per year.
 -0- 09/30/92
 CONTACT: William B. Rea Jr. of Spaghetti Warehouse, 214-226-6000, or Greg Artkop, 214-443-9901, ext. 2199, or Karla Neely, ext. 5412, both of Bloom FCA!, for TGI Friday's
 (SWH) CO: SPAGHETTI WAREHOUSE, INC.; TGI FRIDAY'S INC. IN: LEI ST: TX -- NY019 -- X315 09/30/92
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 30, 1992
Words:354
Previous Article:GRACE LAUNCHES DRUG-FREE WORKPLACE PROGRAM
Next Article:ARMCO FORECASTS LOSS FOR THIRD QUARTER
Topics:


Related Articles
ZUZU ANNOUNCES EXPANSION PLANS DESIGNED TO INTRODUCE 'HANDMADE' MEXICAN FOOD NATIONWIDE
T.G.I. FRIDAY'S CHANGING ITS STRIPES IN SPAIN
TGI FRIDAY'S INC. NAMES NEW PRESIDENT
KENNY ROGERS ROASTERS OPENS FIRST STORE OVERSEAS
KENNY ROGERS ROASTERS OPENS FIRST STORE OVERSEAS
T.G.I. FRIDAY'S TRANSLATES CASUAL DINING TO A GLOBAL AUDIENCE; NATION'S LEADING CASUAL-DINING CHAIN TO DOUBLE INTERNATIONAL LOCATIONS IN 1994
QUIZNO'S(R) SELLS TWO NEW TERRITORIES
T.G.I. FRIDAY'S WORLDWIDE EXPANSION CONTINUES; SAO PAULO, BRAZIL GETS FIRST CASUAL DINING CHAIN RESTAURANt
Friday's Hospitality Worldwide Inc. First to Introduce American Casual Dining Concept to Vietnam

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters