New Franchise Agreement to Bring First Denny’s Locations to Europe
Spartanburg, SC (RestaurantNews.com) Denny’s Corporation (NASDAQ: DENN), one of the world’s largest full-service family dining chains, today announced its expansion into Europe through a franchise agreement with Denny’s Magic Diners U.K., led by seasoned franchise executive Leon Esfahani. The agreement will bring 10 locations to the United Kingdom over the next several years, with the first expected to open in Wales by the end of the year.
“We believe there is considerable opportunity to grow the brand internationally, and are confident that Leon Esfahani and his team’s experience with leading restaurant brands makes him the right partner to introduce the Denny’s experience to the United Kingdom, and more broadly Europe, for the first time,” stated John Miller, Denny’s President and CEO. “Our expanding global footprint has attracted new interest from a number of franchisees and we continue to have an active pipeline for growth as we gain momentum beyond North America.”
Mr. Esfahani’s restaurant experience includes operating franchised locations for leading global brands, including Starbucks and Pizza Hut. His first Denny’s location is expected to open in Swansea, Wales, by the end of 2017.
“I have long been a fan of the Denny’s brand and am honored to bring what I view as a truly unique concept to the United Kingdom,” added Mr. Esfahani, franchisee for Denny’s. “Denny’s serves up a welcoming atmosphere paired with a broad menu of favorites across all day parts, and I am thrilled to introduce the Denny’s diner experience to the local community.”
Steve Dunn, Denny’s Senior Vice President & Chief Global Development Officer, added: “Denny’s is one of the fastest growing family-dining chains across the globe and it is very exciting to add the United Kingdom to our expanding list of new countries offering our unique diner experience. We look forward to finding more qualified partners like Mr. Esfahani and his team to further expand Denny’s international footprint.”
Denny’s Corporation is the franchisor and operator of one of America’s largest franchised full-service restaurant chains, based on the number of restaurants. As of June 28, 2017, Denny’s had 1,724 franchised, licensed, and company restaurants around the world including 125 restaurants in Canada, Puerto Rico, Mexico, New Zealand, Honduras, Costa Rica, Dominican Republic, the United Arab Emirates, the Philippines, Guam, Curaçao, and El Salvador. For further information on Denny’s, including news releases, links to SEC filings, and other financial information, please visit the Denny’s investor relations website at investor.dennys.com.
Christine Beggan, ICR