Arcos Dorados Statement on Impact from Hurricanes Irma and Maria and Mexican Earthquakes
September 26 2017 - 8:01AM
Business Wire
Arcos Dorados Holdings Inc. (NYSE:ARCO) (“Arcos Dorados” or the
“Company”), Latin America’s largest restaurant chain and the
world’s largest independent McDonald’s franchisee, announces that
we are in the process of making a full assessment of the impact to
our employees and operations from hurricanes Irma and Maria in the
Caribbean and recent earthquakes in Mexico. As of the date of this
press release, we are not aware of any loss of life among our
employees or their families.
The Company maintains both property and business interruption
insurance, which it expects will offset any potential short-term
impact on its operations or financial results.
In Mexico, Arcos Dorados and our sub-franchisees have reopened
substantially all of the nearly 390 restaurants in the country.
However, given the impact of the hurricanes, most of our more than
100 restaurants in Puerto Rico and the US Virgin Islands remain
closed.
The repair and reconstruction of restaurants will commence as
soon as possible in each market.
Our primary focus is on providing support to our employees and
their families, as well as delivering aid to local authorities and
search and rescue teams responding to the natural disasters,
wherever possible.
About Arcos Dorados
Arcos Dorados is the world’s largest independent McDonald’s
franchisee in terms of systemwide sales and number of restaurants,
operating the largest quick service restaurant (“QSR”) chain in
Latin America and the Caribbean. It has the exclusive right to own,
operate and grant franchises of McDonald’s restaurants in 20 Latin
American and Caribbean countries and territories, including
Argentina, Aruba, Brazil, Chile, Colombia, Costa Rica, Curaçao,
Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama,
Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the U.S. Virgin
Islands of St. Croix and St. Thomas, and Venezuela. The Company
operates or franchises over 2,100 McDonald’s-branded restaurants
with over 90,000 employees and is recognized as one of the best
companies to work for in Latin America. Arcos Dorados is traded on
the New York Stock Exchange (NYSE: ARCO). To learn more about the
Company, please visit the Investors section of our website:
www.arcosdorados.com/ir.
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version on businesswire.com: http://www.businesswire.com/news/home/20170926005657/en/
Investor RelationsArcos DoradosDaniel Schleiniger, +54 11
4711 2675Vice President of Corporate Communications & Investor
Relationsdaniel.schleiniger@ar.mcd.comorMediaMBS Value
PartnersKatja Buhrer, +1-212-661-7004katja.buhrer@mbsvalue.com
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