Wingstop to Open 30 Locations in Malaysia
April 25 2017 - 7:15AM
Wingstop Restaurants Inc. (NASDAQ:WING), the award-winning wing
concept with more than 1000 locations worldwide, today announced
that it has entered into an international expansion agreement with
The Great Fundamentals Sdn. Bhd. to open 30 franchise locations in
Malaysia over the next six years with the first restaurant set to
open later in 2017. Siswanto, lead managing partner for the
local franchisee, has been a successful entrepreneur and operator
within the local F&B (food and beverage) and entertainment
sectors since 2001.
Prior to heading up The Great Fundamentals Sdn. Bhd., Siswanto
created and led the AUM Hospitality (AUMH) group, which has various
homegrown local brands such as The Library Coffee Bar, The South
East and Ichiban - The Izakaya. AUMH also added the franchise
rights for American brands Johnny Rockets and Quiznos, as well as
Singapore-based brand Franco. Under Siswanto’s leadership, AUMH
grew to be one of the fastest growing F&B groups in Malaysia
with 70 outlets across 10 brands.
“We look forward to partnering with The Great Fundamentals in
the development of these 30 new Wingstop locations,” said Larry
Kruguer, President of International at Wingstop. “Our success in
Southeast Asia since first launching in late 2013 has generated
over 30 locations across Indonesia, Philippines and Singapore with
great consumer reaction and buzz about the brand. Malaysians are
passionate consumers of chicken and this market will enhance our
presence in the region while further fulfilling Wingstop’s mission
to ‘Serve the World Flavor.’”
“We're honored to be a part of the Wingstop family as it is
certainly one of the most exciting American restaurant brands to be
introduced to Malaysia in recent memory,” said Siswanto, Managing
Partner at The Great Fundamentals Sdn. Bhd. “We are confident that
the Wingstop experience will resonate very well with
Malaysians.”
Wingstop is a U.S. based restaurant brand with a
sole focus on freshly prepared, cooked-to-order, hand-sauced and
tossed chicken wings and side dishes. Malaysia will mark Wingstop’s
ninth international market outside of the United States with recent
announcements including Kingdom of Saudi Arabia, Colombia and
Panama currently under development and opening later this year. For
more information on Wingstop franchising, visit
www.wingstop.com/own-a-wingstop/.
About Wingstop Founded in 1994
and headquartered in Dallas, Texas, Wingstop Inc. (NASDAQ:WING)
operates and franchises more than 1,000 restaurants across the
United States, Mexico, Singapore, the Philippines, Indonesia, and
the United Arab Emirates. The Wing Experts’ menu features classic
and boneless wings with 11 bold, distinctive flavors including
Original Hot, Cajun, Atomic, Mild, Teriyaki, Lemon Pepper,
Hawaiian, Garlic Parmesan, Hickory Smoked BBQ, Louisiana Rub, and
Mango Habanero. Wingstop’s wings are always cooked to order,
hand-sauced and tossed and served with a variety of house-made
sides including fresh-cut, seasoned fries. Having grown its
domestic same store sales for 13 consecutive years, the Company has
been ranked #3 on the “Top 100 Fastest Growing Restaurant Chains”
by Nation’s Restaurant News (2016), #7 on the “Top 40 Fast Casual
Chains” by Restaurant Business (2016), and was named “Best
Franchise Deal in North America” by QSR magazine (2014).
Wingstop was ranked #88 on Fortune’s 100 Best Medium Workplaces
list in October 2016. For more information visit
www.wingstop.com or www.wingstopfranchise.com. Follow us
on facebook.com/Wingstop and Twitter @Wingstop.
Certain statements contained in this news
release, as well as other information provided from time to time by
Wingstop Inc. or its employees, may contain forward looking
statements that involve risks and uncertainties that could cause
actual results to differ materially from those in the forward
looking statements. You can identify forward-looking statements by
the fact that they do not relate strictly to historical or current
facts. These statements may include words such as “guidance,”
“anticipate,” “estimate,” “expect,” “forecast,” “project,” “plan,”
“intend,” “believe,” “confident,” “may,” “should,” “can have,”
“likely,” “future” and other words and terms of similar meaning in
connection with any discussion of the timing or nature of future
operating or financial performance or other events.
Any such forward looking statements are not
guarantees of performance or results, and involve risks,
uncertainties (some of which are beyond the Company’s control) and
assumptions. Although we believe any forward-looking statements are
based on reasonable assumptions, you should be aware that many
factors could affect our actual financial results and cause them to
differ materially from those anticipated in any forward-looking
statements. Please refer to the risk factors discussed in our Form
10-K for the year ended December 31, 2016, which can be found at
the SEC’s website www.sec.gov. The discussion of these risks is
specifically incorporated by reference into this news release.
Any forward-looking statement made by Wingstop
Inc. in this press release speaks only as of the date on which it
is made. We undertake no obligation to update any forward-looking
statement, whether as a result of new information, future
developments or otherwise, except as may be required by law.
Media Contact
Brian Bell
972-707-3956
bbell@wingstop.com
Investor Contact
Raphael Gross
203-682-8253
raphael.gross@icrinc.com
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