Industry News | August 27, 2001

Arby's Signs Multi-Unit NY Agreement

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Arby’s, Inc., a subsidiary of Triarc Companies, Inc. (NYSE: TRY), announced the signing of two separate multi-unit development agreements with franchisee owners Jan Headlee and Tom Clarke for a total of 20 new Arby’s locations in New York. Mr. Headlee and Mr. Clarke together bring over 40 years of QSR chain experience to the table.

"Both Jan Headlee and Tom Clarke are excellent restaurant operators and we are excited about their joining the Arby's system to help us grow our presence in the New York market," said Kevin Kruse, Vice President of Business Development for Arby’s, Inc. "Their agreement to each build ten restaurants in Queens and the Hudson Valley adds to our growing base in a market where we believe there is significant opportunity for the Arby’s Brand."

Recruiting multi-unit owners/operators of other fast-food brands to operate restaurants in under-penetrated Arby’s areas is a key component of TRG’s aggressive growth strategy. TRG’s business development team expects to open 150 new domestic Arby’s restaurants by year’s end. Areas of development as it relates to these two agreements will encompass Queens and the Hudson Valley, including Kingston and Central Valley.

Mr. Jan Headlee has been a KFC franchisee for the past 34 years. He currently owns five KFC’s in Newburgh and Monticello, New York and Western Connecticut.

Mr. Tom Clarke is a three store Burger King operator in Queens, New York. He has been a BK franchisee since 1990.

News and information presented in this release has not been corroborated by QSR, Food News Media, or Journalistic, Inc.