Brinker International, Inc. (EAT), leading operator of full service restaurants entered into a development agreement with developer Trio’s Group Ltd., to establish Chili’s® Grill & Bar in Russia. EAT plans to open 25 restaurants in the Russian Federation by June 2017, with the first Chili’s outlet scheduled to be opened in November 2010 in Moscow.
Trio’s Group Ltd. is a privately held company headquartered in Geneva, Switzerland. It was formed by three business partners for the sole purpose of developing and operating Chili’s Grill & Bar in the Russian Federation.
Brinker International currently owns, operates or franchises 203 international locations in 29 countries and two territories outside the U.S. As part of the company’s goal to become the globally dominant casual dining portfolio company, Brinker International plans to have 500 restaurants open outside the North America by 2014.
Developing and emerging markets such as China, Russia and India are key growth regions with significant growth potential. Many of the giant consumer companies like PepsiCo (PEP) and Coca Cola Company (KO) are investing about $1 billion in these markets.
Similarly, the world’s leading fast food giants such as McDonald’s Corporation (MCD) and Yum! Brands, Inc. (YUM) are keenly expanding in these regions.
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