RIO DE JANEIRO, Brazil, (BUSINESS WIRE) -- Brazil Fast Food Corp. (OTC Bulletin Board: BOBS.OB) ("Brazil Fast Food", or "the Company") the second largest fast-food restaurant chain with 663 points of sale in Brazil, operating under multiple brands including Bob's, In Bocca al Lupo Cafe, Pizza Hut and KFC, announced today that it has entered into an agreement with Grupo de Empresas Doggis S.A. ("GED") to cross-franchise the Bob's and Doggis brands in Chile and Brazil, respectively.
Brazil Fast Food will control the Doggis master franchise in Brazil and GED will control the Bob's master franchise in Chile. The Company expects to develop up to 30 Bob's points of sale in Chile and 40 Doggis points of sale in Brazil in the next five years.
"We are pleased with this opportunity to expand in Latin America, and we believe that the Bob's brand has great potential in the Chilean market," said Mr. Ricardo Bomeny, CEO of Brazil Fast Food. "We are also very pleased to add the Doggis brand to our multi-brand portfolio. This transaction is another example of the successful execution of our strategy to become a leading multi-brand food service company in Brazil, and to expand internationally by pursuing carefully evaluated opportunities."
"After judicious analysis we have concluded this agreement provides a strong platform for both brands to expand within the Latin American market as both companies have proven experience in the food service business," said Mr. Flavio Maia, Brazil Fast Food's Business Development Director. "This is an important step in our development and an ideal partnership because it insures the commitment of both parties in cross developing our brands in Chile and Brazil."
Mr. Mauricio Taladriz CEO of Grupo de Empresas Doggis S.A commented: "We are very excited with our partnership with the BFFC group, because we both have been very successful in our respective markets, and this alliance will allow us to build on that success to develop our brands."
About Grupo de Empresas Doggis S.A.
Grupo de Empresas Doggis S.A. ("GED"), is a leader in the food service business in Chile. The company owns and operates the Doggis fast food chain specializing in hot dog. Oscar Fuenzalida and Ricardo Duch, founded GED in March of 1983. In 1990, they opened the first Doggis store with a focus on standardized high quality hot dogs. In 1994 GED hired FRANCHISINTERNATIONAL INC. to develop the franchising process and in 1995 two franchise operations were launched in Concepcion in the south of Santiago and La Serena, to the north. Today GED operates four different brands through owned and franchised stores and has a total of 151 stores.
About Brazil Fast Food Corp.
Brazil Fast Food Corp. owns and operates, both directly or through franchisees, the second largest fast-food restaurant chain in Brazil. The Bob's trade name is used by Venbo Comercio de Alimentos Ltda., a subsidiary of Brazil Fast Food holding company, BFFC do Brasil ParticipaAAues Ltda (formerly 22N ParticipaAAues Ltda.). The "KFC" trade name is used by CFK Comercio de Alimentos Ltda. (formerly Clematis Industria e Comercio de alimentos e ParticipaAAues Ltda.), also a holding company subsidiary. The "Pizza Hut" trade name is used by Internacional Restaurantes do Brasil ("IRB"), also a 60% subsidiary of Brazil Fast Food holding company, BFFC do Brasil ParticipaAAues Ltda. As of Jun. 30, 2008, the Company had 630 points of sale, which includes traditional restaurants, kiosks and re-locatable trailers.
Safe Harbor Statement
This press release contains forward-looking statements within the meanings of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve known or unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those expressed or implied by such forward-looking statements. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see the disclosures in the Company's filings with the Securities and Exchange Commission, including the risk factors contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2007, filed with the Securities and Exchange Commission on March 31, 2008.
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