McDonald’s to slow down growth in Latin America
According to a leading Brazilian newspaper, Valor Economico, McDonald’s Corporation may announce this week that it will sell its Latin American outlets to an investment fund. The most likely buyer was Brazilian fund Pactual, and the deal could be worth an estimated US$ 600 million, much less than the original asking price. What did McDonald’s have to say? “The evaluation process for Latin America is ongoing and no final decisions have been made at this time”.
Angel Morales says: Socio-economic factors in Brazil could yield troublesome numbers and some companies might freak out after seeing negative numbers month after month. McDonald’s has some intense competition in Brazil. They will most likely sell the restaurants but they wil probably get more than US$ 600 million.
Moe’s Southwest Grill strikes a 40-store development deal in Canada
Raving Brands announces plans to bring its flagship concept, Moe’s Southwest Grill, to Canada after entering a development deal with Canadian partner True North Brands, Inc. What does Raving Brands say? “With a new and expanded infrastructure in place across real estate, sales, operations, marketing and training, we are in a solid position to focus and accelarate our growth, domestically and internationally”.
Angel Morales says: The Canadian market could certainly use more restaurants like Moe’s…their high quality food and service could set new standards of operation in Canada.
Burger King Brand enters Poland
BK in Europe awarded Development rights for Poland to American Restaurants Sp.Z.O.O., a subsidiary of AmRest Holdings N.V. The first location is scheduled to open in the second quarter of 2007. What does BK say? “We are very pleased to announce our expansion into Poland, which is part of our overall growth plan to increase our presence in both existing European BURGER KING markets and in strategic new ones.”
Angel Morales says: I have never been to Poland, but I am sure if, and when I go, I will probably try other locations prior to entering a BK. BK has earned a good reputation through Europe so I am sure they will open more stores in the next few years.
Papa John’s Opens first location in Egypt
PJ’ continues its global aggressive expansion with the recent opening of the first Papa John’s restaurant in Egypt. A grand opening celebration was held in Cairo, attended by local dignitaries, and Papa John’s executives and representatives. What does PJ say? “The opening of the first Papa John’s restaurant in Egypt not only serves as a platform for rapid expansion in tnat country, but it further strengthens our foothold throughout the Middle East where we currently have 44 restaurants in 8 countries”.
Angel Morales says: PJ partnered up wiht a superb company: Vantage Egypt for Tourism and Entertainment. This company has showed it can deliver results with previous concepts. Expect a LOT more locations popping up throughout the Middle East. PJ better incorporate a kids menu to their offerings…pronto!
