Arbys Signs Development Agreement for 50 New Restaurants in Egypt
Arby’s Restaurant Group, Inc. (ARG) today announced a development agreement with Vantage Egypt for Tourism and Entertainment (Vantage Egypt) to build 50 new Arby’s restaurants in Egypt. The new restaurants will begin to open in 2018.
Vantage Egypt has more than a decade of experience owning and operating several restaurant concepts and international brands throughout Egypt.
“We are excited to welcome Vantage Egypt in to the Arby’s family and look forward to working with them,” said Paul Brown, Chief Executive Officer of ARG. “They are experienced restaurant operators who will do a fantastic job expanding our brand throughout Egypt.”
“I am very happy about working with a great, successful brand like Arby’s,” said Mohamed Halawa, Owner of Vantage Egypt. “We are very determined to make Arby’s one of the most successful restaurant concepts in the Egyptian Market.”
This agreement will add to Arby’s growing footprint in the region, where the brand is also opening new restaurants in Kuwait and Saudi Arabia through its franchisee, Kharafi Global.
Through the end of 2016, Arby’s global system achieved six consecutive years of positive same-store sales growth. Since 2013, the brand’s global system sales have grown 20 percent to $3.7 billion.