Brinker International Announces Deal To Acquire 11 Chili's Franchise Restaurants In Canada
DALLAS, May 21, 2013 /PRNewswire/ -- Brinker International, Inc. (NYSE: EAT) today announces a signed agreement with longtime Canadian franchise partner, Speedy Creek (2011) Ltd. Under the terms of the agreement, a subsidiary of Brinker will acquire 11 existing Chili's® restaurants in the province of Alberta, which generate approximately $35 million in annual sales. The transaction is projected to close in June.
In addition to the 11 restaurants, Brinker also will retain the extensive industry experience and expertise held by the Speedy Creek team, which will be leveraged to further the brand's development in Canada. In 1991, Speedy Creek became Chili's first international franchisee, bringing the flavors of the Southwest to this key global market.
"For more than 20 years, Chili's has been delivering signature favorites to Canadian guests and with this new agreement will continue to do so, while Brinker accelerates the expansion of the brand in the region," said Guy Constant, chief financial officer and president of global business development for Brinker International.
Gerry Inglis, a restaurant industry veteran with a deep understanding and appreciation for the Chili's brand, has led Edmonton-based Speedy Creek since the partnership began. In his new role with Brinker, Inglis will continue to oversee the successful operations of the 11 acquired restaurants as president of Brinker's Canadian subsidiary.
"The strength of the team and market presence established by Gerry will prove invaluable as we strategically develop Chili's in a country eager for iconic brands from their neighbor to the south," added Constant.
Brinker International, Inc. (NYSE: EAT), is one of the world's leading casual dining restaurant companies, serving more than one million guests daily. Founded in 1975 and based in Dallas, Texas, Brinker owns or franchises nearly 1,600 restaurants in 33 countries and two territories. Brinker's wholly-owned restaurant brands include Chili's® Grill & Bar and Maggiano's Little Italy®. For more information, visit www.brinker.com.
SOURCE Brinker International