The Wing Experts Extend Development Agreement with Wingstop Mexico to 2028, 200 Restaurants
DALLAS, Sept. 23, 2019 (GLOBE NEWSWIRE) — Wingstop (NASDAQ: WING), the award-winning concept with more than 1,300 locations worldwide, today announced an agreement with the brand’s largest partner, Wingstop Mexico, that expands the current development agreement and extends it to 2028 and includes the build-out of 80 additional restaurants, for a total of 200 in the country. This agreement helps further establish Wingstop as a major restaurant brand in an already strong and influential market.
“Our journey with Wingstop has been remarkable, and we’re fortunate to have a brand that trusts and values the potential of our Mexican markets,” said Carlos Cantu, CEO of Wingstop Mexico. “We’re honored and thrilled to continue serving Mexico that signature Wingstop flavor – now with more locations than ever before!”
The brand currently operates 86 restaurants in the country and plans to open 16 restaurants this year alone, with all territory committed under the current agreement. Wingstop is one of the top three restaurant brands in Mexico’s casual dining segment as measured in number of locations.
The brand’s initial expansion into Mexico in 2009 included plans to open 120 restaurants and marked a key milestone as Wingstop’s first international market. Due to its close proximity to the US, the Mexican market resonated strongly with the Wingstop name and presented an opportunity to offer a new and exciting dining experience for consumers. Mexico was also the first market to launch the Wingstop Sports model, featuring a full-service bar and extended menu.
“Our success in Mexico demonstrates Wingstop’s portability and power to scale across the world as we drive toward our vision of becoming a top 10 global restaurant brand,” said Nicolas Boudet, President of International at Wingstop. “Through the combination of strong and committed brand partners such as Wingstop Mexico, we’ve delivered a differentiated guest experience worldwide centered around bold flavor, unparalleled quality, and fresh, made-to-order wings.”
Wingstop is present in eight countries outside of the US, including a newly-launched restaurant in London, and will open its first location in France by year-end, bringing the total country count to nine.
Founded in 1994 and headquartered in Dallas, Texas, Wingstop Inc. (NASDAQ:WING) operates and franchises more than 1,300 locations around the world. The Wing Experts’ menu features classic and boneless wings with 11 bold, distinctive flavors including Original Hot, Cajun, Atomic, Mild, Spicy Korean Q®, Lemon Pepper, Hawaiian, Garlic Parmesan, Hickory Smoked BBQ, Louisiana Rub, and Mango Habanero. Wingstop’s wings are always cooked to order, hand-sauced and tossed, and served with our fresh-cut, seasoned fries and freshly made Ranch and Bleu Cheese dips. The Company has grown its domestic same store sales for 15 consecutive years, has been ranked on the “Top 100 Fastest Growing Restaurant Chains” by Nation’s Restaurant News (2018), named one of the “Top 500 Restaurant Chains” by Restaurant Business (2018), and was recognized as a top 50 limited-service restaurant brand in the U.S. in QSR Magazine’s “QSR 50” report. For more information visit www.wingstop.com or www.wingstop.com/own-a-wingstop. Follow us on facebook.com/Wingstop and Twitter @Wingstop.
Source: Wingstop Restaurants, Inc.