Wendy's signs Singapore development deal

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Date AddedMay 27, 2009 09:47:30 PM

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LOS ANGELES, May 26 (Reuters) - Wendy's/Arby's Group Inc (WEN.N) on Tuesday said it signed a development agreement with Kopitiam Investment Pte Ltd to build and operate Wendy's restaurants in Singapore.

Kopitiam Group is scheduled to open the first of the restaurants in late 2009, and build more than 35 Wendy's outlets throughout the country over the next 10 years.

The fast-food company said Kopitiam is the largest food service management operator in Singapore, operating the Kopitiam, Dessert Shop, Banquet, Kopi and Bao Luo Wan Xiang brands. Kopitiam also manages Lau Pa Sat Festival Market.

Wendy's/Arby's, the third-largest fast-food chain in the United States, was formed after Arby's owner Triarc bought Wendy's in September. The merger was designed to make the chains more competitive with bigger and better performing rivals McDonald's Corp (MCD.N), Burger King Holdings Inc (BKC.N) and Yum Brands Inc (YUM.N), parent of the KFC, Taco Bell and Pizza Hut brands.

Wendy's/Arby's operates international franchise business in 23 markets outside the United States and Canada. Six of the markets are in the Asia/Pacific region. (Reporting by Lisa Baertlein, editing by Maureen Bavdek)