Wendy’s/Arby’s International Inc., a subsidiary of Wendy’s/Arby’s Group Inc. recently announced that it has inked a long-term development agreement with Wenphil Corporation to expand in the Philippines. Per the deal, Wenphil will develop 44 additional Wendy’s restaurants in other cities and regions in that country outside Metro Manila, through the sub-franchising method. The terms of the deal were not disclosed.
Wenphil’s association with Wendy’s dates back to 1983. The latest deal will increase the total number of Wendy’s locations in the Philippines to 75. The deal affirms management’s intent to make the Philippines one of the prime markets for international expansion, considering stepped up economic growth and under-penetration of quick-service restaurants in that region as against the North American countries. The company seeks to capitalize this potential in full.