This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Darden Announces Additional Franchise Deals In Latin America

ORLANDO, Fla., July 12, 2013 /PRNewswire/ -- Darden Restaurants, Inc. (NYSE: DRI) announced it has signed area development agreements with two leading multi-brand restaurant operators in Latin America.  Grupo Piramide will develop Darden's Red Lobster, Olive Garden and LongHorn Steakhouse brands in Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica while Dosil S.A. will develop the concepts in Peru.  Both of the new franchisees already operate other American casual dining and quick service restaurants.

(Logo: http://photos.prnewswire.com/prnh/20050203/FLTH026LOGO )

These deals complement Darden's recent area development agreement with International Meal Company, which will operate Red Lobster, Olive Garden and LongHorn Steakhouse in Brazil, Colombia, Panama and the Dominican Republic.  Darden has also had franchisees in Mexico and Puerto Rico for some time.  With these new agreements, Darden will have operations in 12 markets throughout Latin America.

"We are excited to expand our presence in Latin America through these agreements with Grupo Piramide and Dosil S.A., both of which are the premier chain restaurant operators in their markets," said Kim Lopdrup, senior vice president of Business Development for Darden."

"As we've stated previously, Darden remains committed to owning and operating its restaurants domestically.  We believe the best way to expand internationally, however, is to partner with outstanding local chain restaurant operators, so we can benefit from their existing infrastructure, market knowledge and relationships."

Grupo Piramide is the leading multi-brand restaurant company in Central America.  They operate five American casual dining brands as well as Starbucks, KFC, Pizza Hut and Wendy's.  They have a total of 662 restaurants and over 19,000 employees. 

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,745.98 -5.41 -0.03%
S&P 500 2,108.63 +0.06 0.00%
NASDAQ 5,128.7850 +17.0520 0.33%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs