ORLANDO, Fla., Aug. 11, 2011 /PRNewswire/ -- Darden Restaurants,
Inc. (NYSE: DRI) today announced it has entered into a formal area
development agreement with CMR to develop and operate Darden's Red
Lobster, Olive Garden and The Capital Grille brands in Mexico. The agreement calls for CMR to
initially develop a minimum of 37 restaurants in Mexico over the next five years.
(Logo:
http://photos.prnewswire.com/prnh/20050203/FLTH026LOGO )
"Last month we celebrated the opening of Red Lobster in
Dubai, our first restaurant in the
Middle East," said Kim Lopdrup, senior vice president of Business
Development for Darden. "Today, we're excited to build upon that
milestone with the announcement of our agreement with CMR, the
leading full-service restaurant operator and franchisor in
Mexico. With its growing middle
class and strong affinity for American brands, Mexico is an attractive growth market for
Darden.
"As we've stated previously, Darden remains committed to owning
and operating its restaurants domestically. However we
believe the best way for us to expand the reach of our portfolio
internationally is by selecting the right partners, like CMR, with
outstanding operations experience, local market knowledge, and the
commitment to delivering our brands' experience with
excellence."
CMR is Mexico's leading casual
dining company, with more than 100 restaurants in 26 cities
throughout the country. For more than 40 years, the company
has operated a variety of company-owned and franchised concepts
within the casual dining and fine dining sectors, including: Fonda
Mexicana, Destilería, Elago and Chili's, among others.
"We are delighted to welcome Red Lobster, Olive Garden and The
Capital Grille to our family," said CMR Chairman of the Board
Joaquín Vargas Guajardo. "The addition of these three highly
regarded brands to our portfolio is a huge step towards our vision:
'In casual dining, bring the best of the world to Mexico and share the best of Mexico with the world.'"
About Darden Restaurants
Darden Restaurants, Inc., (NYSE: DRI), the world's largest
full-service restaurant company, owns and operates more than 1,900
restaurants that generate more than $7.5
billion in annual sales. Headquartered in Orlando, and employing approximately 180,000
people, Darden is recognized for a culture that rewards caring for
and responding to people. In 2011, Darden became the first
full-service restaurant company ever to be named to the FORTUNE
"100 Best Companies to Work For" list. Our restaurant brands — Red
Lobster, Olive Garden, LongHorn Steakhouse, The Capital Grille,
Bahama Breeze and Seasons 52 —
reflect the rich diversity of those who dine with us. Our brands
are built on deep insights into what our guests want. For more
information, please visit www.darden.com.
About CMR
CMR SAB de CV (BMV:CMRB) is Mexico's leading casual dining company,
publicly traded in the Mexican Stock Exchange (Bolsa Mexicana de
Valores, BMV) and currently operating 116 units in 26 cities
throughout Mexico. The company
operates a variety of casual and fine dining concepts under
imported and in-house brands: Wings, Chili's, Fonda Mexicana,
Destilería and Elago, among others. CMR generates over $150 million in annual sales and has
approximately 5,700 employees. The company's vision is: "In casual
dining, bring to Mexico the best
of the world and share with the world the best of Mexico." For more information, please visit
www.cmr.ws/eng.
SOURCE Darden Restaurants, Inc.: General