Industry News | August 7, 2002

Checkers Drive-In Restaurants Opening in Mexico

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Checkers Drive-In Restaurants, Inc. recently entered into a development agreement with Tribecca S.A. De CV for a minimum of 10 locations in the Yucatan peninsula area of Mexico.

Fredy Salomon, Principal Officer of Tribecca S.A. De CV commented: "We have had a great deal of experience in successfully bringing strong U.S. brands into the Mexican market place."

"After a thorough review of all the options available, we found the Checkers brand and systems to be best positioned to serve our customers and our business plans. We believe that Checkers' food will be well received in Mexico as Checkers is already known to many of the visitors to our area."

"We are delighted to announce our new franchise partners in Mexico,"said Daniel J. Dorsch, Chief Executive Officer and President of Checkers Drive- In Restaurants, Inc. "Mr. Salomon's group has the experience we were looking for in Mexico to begin building our brand in that country where we fully expect to get aggressive with marketing our franchises. Mexico currently has approximately 135 Burger Kings and 175 McDonald's restaurants and we believe that Checkers could have a similar potential. The hamburger, fries, and shake concept has been well received for many years in Mexico and the Checkers concept with its high flavor food profile and development costs significantly below the other burger chains, should offer a new energy in Mexico," Dorsch continued.

"In addition to Mexico, our domestic franchisees are also gearing up for new franchise growth. After several years of slow growth we are also ready to build new company restaurants and we are submitting for development permits currently."

The Mexican states covered by the announced development agreement are: Yucatan, Q. Roo, Tabasco, Veracruz, Puebla and Tamaulipas.