Restaurant Brands Acquires Carl's Jr As Its Fourth Brand

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14 December 2011 NZX Restaurant Brands Acquires Carl’s Jr. as its Fourth Brand Restaurant Brands New Zealand Limited has acquired the rights to operate a fourth brand in New Zealand. The company will build and operate the Carl’s Jr. chain of restaurants in this country, adding to its current stable of KFC, Pizza Hut and Starbucks Coffee businesses. The Carl’s Jr., brand, owned by US-based CKE Restaurants, Inc., specialises in offering best in class premium-quality burgers with a marketing proposition that targets youthful demographics. Carl’s Jr. restaurants offer unique service attributes focusing on ‘partial table service’, with a ‘made-to-order’ menu, all-you-can-drink beverage bars, and a strong breakfast offering. Restaurant Brands will work closely with the existing New Zealand Carl’s Jr. franchisee, which has already fully tested the concept in this market with two restaurants currently operating in Auckland. Under the terms of its Development Agreement, Restaurant Brands has the exclusive development rights to build restaurants throughout New Zealand to complement the existing franchisee’s rights to develop a limited number of restaurants in Auckland.. Restaurant Brands is familiar with these shared arrangements, working with independent franchisees in both its KFC and Pizza Hut brands. Restaurant Brands expects to be able to open its first restaurant by the middle of next year . The company has also entered into a Multi Unit Licence Agreement with CKE that sets out the terms for operating the franchise. These terms are standard to most franchisee-franchisor relationships and similar to the existing commercial arrangements currently in place with Yum! Restaurants International and Starbucks Coffee International. CKE has a network of 3,219 restaurants with annual sales of US$3.4 billion, with the Carl’s Jr. brand representing more than 1,290 restaurants. CKE has placed a major emphasis on expanding its international operations, with over 400 restaurants in Mexico, the Middle East, Asia, Russia and Latin America. CKE has placed a major emphasis on expanding its international operations, with over 400 restaurants in Mexico, the Middle East, Asia, Russia and Latin America. ENDS About Restaurant Brands: Restaurant Brands New Zealand Limited operates the New Zealand outlets of KFC, Pizza Hut, Starbucks Coffee and now Carl’s Jr. These brands - some of the world's most famous - are distinguished for their product, look, style and ambience, service and for the total experience they deliver to their customers in New Zealand and around the world. About CKE Restaurants: CKE Restaurants, Inc. is a US-based quick-service restaurant operator with more than 3,219 franchised, licensed or company-operated restaurants in 42 states and in 23 countries. CKE’s brands include 1,292 Carl's Jr. restaurants and 1,917 Hardee's restaurants. More information can be found at www.CKR.com. .

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