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.
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