SPARTANBURG, S.C.--(BUSINESS WIRE)--Jul. 9, 2012--
Denny’s Corporation (NASDAQ: DENN), the international restaurant concept
known as America’s Diner, today announced that it has signed an
agreement with
Great China International Group (GCIG) for the
development of 50 new Denny’s restaurants in southern
China over the
next 15 years. GCIG has exclusive rights to open units in six Chinese
provinces including
Guangdong,
Fujian,
Guizhou,
Jiangxi,
Chongqing, and
Sichuan. The Company expects the first restaurant will open in 2013.
Great China International Group is a leading Chinese-based enterprise
with diversified business holdings in finance, real estate, commercial
development, hotels, food service, television media, energy resources
and port logistics. The company has demonstrated a successful track
record developing well-known global hotel brands such as Hilton and
Sheraton.
John Miller, Denny’s President and Chief Executive Officer, stated,
“This significant development agreement is Denny’s first major expansion
in China and is the brand’s largest international development agreement
to date. This agreement builds upon the success the Company has had in
expanding the brand internationally with recent franchise openings in
Honduras, Canada, Puerto Rico, and the Dominican Republic. We are
thrilled to begin our relationship in China with GCIG and are impressed
with their expertise and resources. We believe that the Denny’s brand
will continue to grow around the world and are focused on finding
additional strong partners like GCIG as we continue our global expansion
efforts.”
Sharon Huang, Business Director for GCIG, commented, “As the brand’s
first franchise partner in China, we are honored to have the opportunity
to introduce local residents to Denny’s everyday value and craveable
menu items served in an inviting, comfortable atmosphere. Today’s
Chinese consumers are hungry for the variety, quality and value a brand
like Denny’s represents around the world. Denny’s history of success
internationally gives us confidence that this partnership will provide
both GCIG and Denny’s a significant growth opportunity.”
Denny’s Senior Vice President of Global Development Steve Dunn added,
“Denny’s will be the most recognized American family dining brand to
enter China. Denny’s has very high standards when it comes to selecting
the right franchisee and is excited to be partnering with GCIG, an
experienced, dedicated and talented organization uniquely qualified to
expand the Denny’s brand in China. We will work closely with GCIG to
ensure Denny’s becomes the family dining brand of choice in southern
China.”
As Denny’s approaches its 60th anniversary and 1,700th location, the
Company believes 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 and licensees, 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, the international restaurant concept known as America’s Diner,
is one of America's largest full-service family restaurant chains,
currently operating 1,680 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 Great China International Group
Great China International Group established in 1987, is a leading
Chinese-based foreign-invested enterprise with diversified business in
finance, real estate, commercial development, hotels, food service,
television media, energy resources and port logistics.
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
Investors:
Denny’s Corporation
Whit Kincaid,
877-784-7167
wkincaid@dennys.com
or
Denny’s
Franchise Development:
Steve Dunn, 864-597-8403
sdunn@dennys.com
Doug
Wong, 770-777-0796
dwong@dennys.com
or
ICR
Media:
Liz
Brady, 646-277-1226
lbrady@icrinc.com