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Darden Restaurants, Inc.
DRI today announced it has entered into an area development agreement with
International Meal Company to develop and operate 57
restaurants under Darden's Red Lobster, Olive Garden and LongHorn Steakhouse
brands in Brazil, Colombia, the Dominican Republic and Panama.
"We're excited to bring our three category-leading brands to these countries
through our agreement with International Meal Company, a leading, multi-brand
restaurant operator in South and Central America, as well as the Caribbean,"
said Kim Lopdrup, senior vice president of Business Development for Darden.
"Brazil's growing middle class and strong affinity for American brands makes
it an attractive growth market for Darden. And IMC's focus in Brazil,
Colombia, the Dominican Republic and Panama makes them the ideal partner for
these markets."
"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 great
partners, such as IMC, with outstanding operations experience, local market
knowledge, and the commitment to delivering our brands' experience with
excellence."
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