Worldwide Restaurant Concepts (NYSE:SZ)
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From Jul 2019 to Jul 2024
Worldwide Restaurant Concepts, Inc. Announces Joint Venture With
the Minor Group
SHERMAN OAKS, Calif., Nov. 19 /PRNewswire-FirstCall/ -- Worldwide Restaurant
Concepts, Inc. (NYSE:SZ) announced that it has entered into a joint venture
agreement with the Minor Food Group Pcl, a subsidiary of Royal Garden Resorts
Pcl, to develop franchise opportunities for Sizzler restaurants in China. Two
franchised restaurants are expected to be operating in the country within the
next twelve months. "With China continuing as a burgeoning economic powerhouse,
Sizzler's development in this country is a natural and logical extension of the
presence we already have in the Pacific Rim with franchised restaurants in
Thailand, Japan, South Korea, Singapore and Taiwan," said Chuck Boppell, CEO of
Worldwide Restaurant Concepts. "The joint venture agreement allows for the
franchising of Sizzlers throughout China. Accordingly, the joint venture has
executed a multi-unit franchise agreement with Beijing LeJazz Food & Beverage
Co. Ltd. to develop up to ten Sizzler restaurants in Beijing over the next five
years," concluded Mr. Boppell.
"We are excited to be able to partner with a well established and recognized
business leader in the rapidly growing Asian market. For Sizzler, we feel this
is a significant step in our on-going international expansion," said Mr.
Boppell.
Royal Garden Resorts Pcl is a leading Asia-Pacific hospitality and food service
operator and its subsidiary, The Minor Food Group, is Thailand's largest food
service operator with over 456 outlets system wide under many well recognized
brand names including Sizzler.
About Worldwide Restaurant Concepts
Worldwide Restaurant Concepts, Inc. operates, franchises or joint ventures 306
Sizzler(R) restaurants worldwide, 112 KFC(R) restaurants located primarily in
Queensland, Australia, and 23 Pat & Oscar's(R) restaurants. Additional
information about the Company can be found at http://www.wrconcepts.com/.
To the extent that certain statements contained in this document may be deemed
under federal securities laws to be forward-looking statements, Worldwide
Restaurant Concepts intends that they be subject to the safe-harbor applicable
to forward-looking statements under such laws.
AT THE COMPANY:
Keith Wall Liz Baskerville
Vice President and CFO Director, Planning
(818) 662-9800 (818) 662-9800
AT Financial Relations Board:
Laurie Berman Tricia Ross
General Information Investor/Analyst Contact
(310) 854 - 8315 (617) 520-7064
DATASOURCE: Worldwide Restaurant Concepts, Inc.
CONTACT: Keith Wall, Vice President and CFO, +1-818-662-9800, or Liz
Baskerville, Director, Planning, +1-818-662-9800, both of Worldwide Restaurant
Concepts, Inc.; or Laurie Berman, General Information, +1-310-854-8315, or
Tricia Ross, Investor/Analyst Contact, +1-617-520-7064, both of Financial
Relations Board, for Worldwide Restaurant Concepts, Inc.
Web site: http://www.wrconcepts.com/