Wingstop Inc. Announces New Corporate Headquarters in Addison, TX
June 25 2019 - 8:30AM
Wingstop Inc. (NASDAQ: WING) today announced it will relocate its
corporate headquarters to Addison, Texas, just north of Dallas, and
has signed an agreement to acquire a 78,000 square foot
state-of-the-art office building for $18.3 million. Completed in
2010, this thoughtfully designed facility offers an attractive
layout with increased open areas, as well as designated space for
innovation and kitchen testing to support the Company's next phase
of growth.
"We are at a pivotal moment in Wingstop’s path
to become a Top 10 global restaurant brand and believe this new
corporate headquarters will support our strategic growth priorities
by creating an environment for innovation and collaboration,” said
Chairman and CEO Charlie Morrison. "As we continue to invest in
initiatives that position us for long-term success, attracting and
retaining top talent is key to ensure we scale the business and
continue to deliver best-in-class results. Our current facility
does not provide the expansion capacity for our long-term growth.
We believe that our investment in this facility will generate
meaningful returns and create value for our shareholders now and
over the long-term."
The office is a three-story, modern corporate
office building that will be occupied solely by Wingstop, allowing
for increased flexibility and scalability as compared to the
Company’s current multi-tenant building format. The design consists
of a combination of open office areas, common spaces, conference
rooms, training facilities and a fitness center. The new facility
will also house the Company’s global test kitchen, innovation
center and a mock Wingstop restaurant.
Addison, Texas is conveniently located just
north of Dallas with access to three major airports, a network of
highways and tollways, as well as attractive residential
neighborhoods in the surrounding areas. The Company’s new corporate
headquarters will be less than four miles from the current
headquarters building, ensuring minimal disruption for Wingstop
employees and partners following the move.
About Wingstop
Wingstop Inc. (NASDAQ:WING) was founded in 1994
and is headquartered in Dallas, Texas. As of May 7, 2019, Wingstop
operated and franchised more than 1,250 restaurants around the
world. The Wing Experts’ menu features classic and boneless wings
with 11 bold, distinctive flavors including Original Hot, Cajun,
Atomic, Mild, Spicy Korean Q®, 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 our fresh-cut, seasoned fries and freshly
made Ranch and Bleu Cheese dips. The Company has grown its domestic
same store sales for 15 consecutive years, has been ranked on the
“Top 100 Fastest Growing Restaurant Chains” by Nation’s Restaurant
News (2018), named one of the “Top 500 Restaurant Chains” by
Restaurant Business (2018), and was recognized as a top 50
limited-service restaurant brand in the U.S. in QSR Magazine’s “QSR
50” report. For more information visit www.wingstop.com or
www.wingstop.com/own-a-wingstop. Follow us on facebook.com/Wingstop
and Twitter @Wingstop.
Forward-looking Information
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 “will,” “growth,” “believe,” “long-term,”
“continue,” “expect,” “anticipate,” 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. Examples of forward-looking statements in this news release
include our expectations relating to the acquisition of a new
corporate headquarters.
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 annual report on Form 10-K and
quarterly reports on Form 10-Q, 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 news
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 ContactMegan Sprague 303-517-8579
MSprague@wingstop.com
Investor ContactTed McHugh and Lauren
Tarola917-530-7792WingstopFinComm@edible-inc.com
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