DALLAS, July 28, 2016 (GLOBE NEWSWIRE) -- Fogo de Chão, the internationally-renowned Brazilian steakhouse, today announced that it will open five new restaurants in the United States, Saudi Arabia and Mexico. The openings include three company-owned locations in the United States and two international locations with joint venture partner the Enany Group in Saudi Arabia, and The Lacador Group in Mexico City. These new developments represent a strategic execution of Fogo’s plans to grow its company-owned restaurant count by 10 percent annually over the next five years, and to continue its international expansion in key markets via qualified joint venture partnerships.
Fogo de Chão’s three new company-owned U.S. restaurants will open in cities where the brand has already developed a strong guest base and experienced proven success.
Dunwoody, GA – Building on the success of Fogo’s Buckhead location, its second Atlanta-area restaurant will open just north of the city in Dunwoody, renowned for its premium shopping, high-end restaurants and hotels, and family-focused cultural festivals.
Dallas Uptown, TX – Located in the heart of Uptown Dallas, this second area location will open at the corner of McKinney and Routh. With its luxury residences and a vibrant shopping, entertainment and social scene, Uptown is a lively and unique Dallas destination.
Tysons, VA – Known as “America’s next great city,” Tysons is home to a broad assortment of shopping, fine dining and hotels, making it a global travel destination and the ideal spot for Fogo’s second location in greater Washington D.C.
Fogo de Chão opened its first U.S. restaurant in Dallas, TX in 1997, and currently operates 42 company-owned locations across the U.S. and Brazil, as well as one joint venture location in Mexico City. In addition to the newly publicized U.S. openings, Fogo de Chão also has plans for locations in Bellevue, WA, Plano, TX and Pittsburgh, PA, with dates to be announced.
“We continue to see great demand for the unique experience and value created at Fogo de Chão, both across the U.S. and around the world,” said Larry Johnson, Chief Executive Officer of Fogo de Chão. “These new domestic locations and international joint venture partnerships are perfectly aligned with our strategic vision and growth plans. We look forward to celebrating their openings, and to continuing to build on our strong development pipeline.”
Fogo has also announced two new international joint venture locations:
Jeddah, Saudi Arabia – Through its joint venture partnership with the Enany Group, Fogo de Chão will open in Jeddah, Saudi Arabia, representing its first restaurant in the Middle East. Located in Jeddah Square, nearby the fashionable North Corniche, Fogo will be positioned among the most impressive and popular of the city’s sites, including the Red Sea, the Corniche, and high-end shopping areas.
Santa Fe, Mexico City – Following the success of its first restaurant launch in Polanco in 2015, Fogo will open its second Mexico City location with joint venture partner The Lacador Group, in Santa Fe. As the newest and most thriving area of Mexico City, Santa Fe is home to luxury shopping and dining destinations including the largest retail mall in Latin America and an array of high-end, international hotels.
The Company continues to expect to open as many as five to six restaurants including one international joint venture restaurant in 2016. The Company has already opened two locations this year including Naperville, IL in January and King of Prussia, PA in July.
About Fogo de Chão
Fogo de Chão (fogo-dee-shown) is a leading Brazilian steakhouse, or churrascaria, which has specialized for more than 36 years in fire-roasting high-quality meats utilizing the centuries-old Southern Brazilian cooking technique of churrasco. Fogo delivers a distinctive and authentic Brazilian dining experience through the combination of high-quality Brazilian cuisine and a differentiated service model known as espeto corrido (Portuguese for "continuous service") delivered by gaucho chefs. Fogo offers its guests a tasting menu of a variety of meats including beef, lamb, pork and chicken, simply seasoned and carefully fire-roasted to expose their natural flavors, a gourmet Market Table with seasonal salads, soup and fresh vegetables, seafood, desserts, signature cocktails and an award-winning wine list. The first Fogo de Chão opened in Brazil in 1979. The Company currently operates 32 restaurants in the United States, 10 in Brazil and one joint venture restaurant in Mexico. Visit FOGO.com for more information. Fogo.com.
About The Enany Group
The Enany Group of Companies is a global investment group headquartered in Jeddah, Saudi Arabia and operating in over 20 countries across the Middle East, Europe and the Americas. Starting in 1975, the Enany Group is today comprised of more than 100 wholly owned and affiliated companies with global interests and commercial activities in different industries, including real estate development, information technology, food and beverage, sports, leisure and tourism, agriculture, manufacturing, construction, facilities management and asset management.
About Lacador Group
The Lacador Group and its predecessor have been principally dedicated to the operation, development and management of restaurants since 2007 including as a franchisee of several well-known companies in the US and with a portfolio of restaurants in Mexico City.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 which are subject to risks and uncertainties. Forward-looking statements relate to expectations, beliefs, projections, guidance, future plans, objectives and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts, such as statements regarding our future financial condition or results of operations, our prospects and strategies for future growth, the development and introduction of new products, and the implementation of our marketing and branding strategies. Forward-looking statements can also be identified by words such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “seeks,” “intends,” “targets” or the negative of these terms or other comparable terminology. Forward-looking statements are not guarantees of future performance and actual results may differ significantly from the results discussed in the forward-looking statements. Factors that might cause such differences include, but are not limited to, those discussed in the section entitled "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended January 3, 2016 and other factors noted below in this “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” Forward-looking statements speak only as of the date on which they are made. Except as required by applicable securities law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.
Source:Fogo de Chao