SPARTANBURG, S.C.--(BUSINESS WIRE)--Aug. 27, 2012--
Denny’s Corporation (NASDAQ: DENN), franchisor and operator of one of
America's largest full-service restaurant chains, today announced that
it has signed an agreement with
Musiet Group for the development of 10
new Denny’s restaurants in
Chile over the next 15 years.
The Musiet
Group has exclusive rights to open units in the country and expects the
first restaurant will open in
Santiago in 2013.
The Musiet Group is a family operated company with diversified holdings
throughout Chile that include being the master franchisee for Ruby
Tuesday, a U.S. based casual dining restaurant chain. The company has
demonstrated a successful track record developing local restaurant
concepts as well in Santiago. The group also owns and operates PAL
Airlines with service routes throughout Central and South America.
John Miller, Denny’s President and Chief Executive Officer, stated, “We
are making significant progress expanding the Denny’s brand
internationally with the right franchise partners and this is further
evidence of our momentum. This significant development agreement is our
first major expansion in South America and is one of the brand’s largest
international development agreements to date.”
Rolando Musiet, President of the Musiet Group, commented, “We are very
proud to be selected by Denny’s to be the exclusive developer for Chile.
Our idea is to replicate the successful Denny’s model and differentiate
ourselves from other restaurants by offering Denny’s craveable
breakfast, lunch and dinner items served 24-hours a day in an inviting,
comfortable atmosphere.”
Denny’s Senior Vice President of Global Development, Steve Dunn, added,
“It is an honor to have the opportunity to work with such an experienced
group which has demonstrated a record of success in Chile. Denny’s will
be the first American family dining brand to enter Chile and we are very
excited to bring the iconic Grand Slam to the new customers.”
As Denny’s approaches its 60th anniversary and 1,700th location, the
Company expects that the Denny’s brand will become one of the largest
American full service brands in the world. Through its America’s Diner
brand positioning, it is providing current and new guests the promise of
everyday value with craveable, indulgent products served in a friendly
and inviting atmosphere. Together with its talented and committed
franchisees, the Company will work to continue to expand the Denny’s
platform through all types of distribution points around the globe.
About Denny’s
Denny's is the franchisor and operator of one of America's largest
full-service restaurant chains, based on number of units. As of June 27,
2012, Denny’s had 1,684 franchised, licensed, and company-owned
restaurants across the United States, Canada, Costa Rica, Mexico,
Honduras, Guam, Curaçao, Puerto Rico, Dominican Republic and New
Zealand. For further information on Denny's, including news releases,
links to SEC filings and other financial information, please visit the
Denny's investor relations website. For further information on Denny's
international franchising please visit the Denny's franchise development
website at dennysfranchising.com.
About The Musiet Group
The Musiet Group is a family operated company with diversified holdings
throughout Chile that include being the master franchisee for Ruby
Tuesday, a U.S. based casual dining restaurant chain, and developing
local restaurant concepts in Santiago, Chile. The group also owns and
operates PAL Airlines which services routes throughout Chile and other
international destinations in Central and South America.
Forward Looking Statements
The Company urges caution in considering its current trends and any
outlook on earnings disclosed in this press release. In addition,
certain matters discussed in this release may constitute forward-looking
statements. These forward-looking statements, which reflect our best
judgment based on factors currently known, are intended to speak only as
of the date such statements are made and involve risks, uncertainties,
and other factors that may cause the actual performance of Denny’s
Corporation, its subsidiaries and underlying restaurants to be
materially different from the performance indicated or implied by such
statements. Words such as “expects”, “anticipates”, “believes”,
“intends”, “plans”, “hopes”, and variations of such words and similar
expressions are intended to identify such forward-looking statements.
Except as may be required by law, the Company expressly disclaims any
obligation to update these forward-looking statements to reflect events
or circumstances after the date of this release or to reflect the
occurrence of unanticipated events. Factors that could cause actual
performance to differ materially from the performance indicated by these
forward-looking statements include, among others: the competitive
pressures from within the restaurant industry; the level of success of
the Company’s strategic and operating initiatives, advertising and
promotional efforts; adverse publicity; changes in business strategy or
development plans; terms and availability of capital; regional weather
conditions; overall changes in the general economy, particularly at the
retail level; political environment (including acts of war and
terrorism); and other factors from time to time set forth in the
Company’s SEC reports and other filings, including but not limited to
the discussion in Management’s Discussion and Analysis and the risks
identified in Item 1A. Risk Factors contained in the Company’s Annual
Report on Form 10-K for the year ended December 28, 2011 (and in the
Company’s subsequent quarterly reports on Form 10-Q).
Source: Denny’s Corporation
Investor Contact:
Denny’s Corporation
Whit Kincaid,
877-784-7167
wkincaid@dennys.com
or
Denny’s
Franchise Development Contacts:
Steve Dunn, 864-597-8403
sdunn@dennys.com
Doug
Wong, 770-777-0796
dwong@dennys.com
or
Media
Contact:
ICR
Liz Brady, 646-277-1226
lbrady@icrinc.com