Brinker Announces Deal to Buy 11 Chili's Franchises in Canada
Brinker International, Inc. (NYSE: EAT) today announces a signed agreement with longtime Canadian franchise partner, Speedy Creek (2011) Ltd. Under the terms of the agreement, a subsidiary of Brinker will acquire 11 existing Chili's^® restaurants in the province of Alberta, which generate approximately $35 million in annual sales. The transaction is projected to close in June.
In addition to the 11 restaurants, Brinker also will retain the extensive industry experience and expertise held by the Speedy Creek team, which will be leveraged to further the brand's development in Canada. In 1991, Speedy Creek became Chili's first international franchisee, bringing the flavors of the Southwest to this key global market.
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