CKE Restaurants Inc. said Thursday that it signed an exclusive deal to open 25 of its Carl's Jr. restaurants in Vietnam.Terms were not disclosed.
CKE said the deal is part of a bigger plan to enhance its Asian presence, particularly in China and Southeast Asia. The restaurant operator, which also runs Hardee's restaurants, entered a development deal with Star Food F&B Management Co. last year to open Carl's Jr. restaurants in Shanghai and Beijing.
CKE currently has Carl's Jr. restaurants in China, Singapore, Malaysia and American Samoa, with additional franchise deals planned. It franchises 340 international restaurants between its Carl's Jr. and Hardee's brands and wants to double its international presence in the next five years.
The Vietnam agreement with the Mesa Group will see the first Carl's Jr. restaurant open in Ho Chi Minh City in April. Mesa Group has experience in Vietnam in the areas of distribution, food and beverage, media and real estate development.
CKE had 3,147 franchised, licensed or company-run restaurants in 42 states and in 14 countries at the fiscal third quarter's end.
Shares of CKE Restaurants added 6 cents to $8.68 in morning trading.
CKE Restaurants to open Carl's Jr. in Vietnam
CKE Restaurants Inc. said Thursday that it signed an exclusive deal to open 25 of its Carl's Jr. restaurants in Vietnam.
Source: Business Week