Signs Development Agreement with Al Bairaq Trading Import & Export Co. W.L.L. for Five Restaurants
MARYVILLE, TN--(BUSINESS WIRE)--Ruby Tuesday (NYSE:RT) today announced that the Company has signed a development agreement with Al Bairaq Trading Import & Export Co. W.L.L. to expand the brand’s presence into Qatar. The Qatari-based franchise group, owned and operated by Alaa Subhi Abbas, will open five restaurants in Qatar over the next five years.
“International franchising provides a great opportunity for Ruby Tuesday to strategically grow into new markets, leveraging the knowledge and expertise of local area operators,” said Jim Hyatt, President and Chief Executive Officer of Ruby Tuesday. “Our master franchisee, NAC/Gourmania, is an experienced group and we are pleased to welcome a new franchisee, Al Bairaq, to the Ruby Tuesday family. We will continue to seek out new, highly qualified operators who are able to strategically expand our great brand into new regions internationally and thereby support our overall business strategy.”
Al Bairaq Trading Import & Export Co. W.L.L. has significant franchise experience as the exclusive franchisee for Aston Martin and MG cars in the State of Qatar. The group is also the owner of Aloosh Iraqi restaurant.
Alaa Subhi Abbas, CEO of Al Bairaq Trading Import & Export Co. W.L.L. added, “We along with NAC and Gourmania are thrilled to bring Ruby Tuesday, an iconic American brand, to Qatar. Over the years, we have appreciated the strong desire of residents and visitors alike for a place to gather and enjoy a meal and we’re confident the concept will resonate well.”
National Arabic Company for Restaurant Management (NAC) and Gourmania International, are part of Bukhamseen Group Holding Co., and are the master franchisee of Ruby Tuesday in the Middle East, Africa and Central Asia. The group currently operates six Ruby Tuesday restaurants in Kuwait and has a network of seven franchise restaurants open in KSA (Jeddah), Egypt, UAE and Oman.
“We have seen great success operating Ruby Tuesday restaurants in the Middle East, Africa and countries within Central Asia. We’re honored to have the opportunity to continue expanding the Ruby Tuesday brand to new regions through our franchisees like Al Bairaq,” Mahmoud Mousavi, Director of Franchising & Real Estate of Gourmania International.
Ruby Tuesday has exclusive multi-unit franchise opportunities available for highly qualified operators in the MENA & Central Asia and around the world. For more information please email firstname.lastname@example.org or visit https://rubytuesday.1851franchise.com/.
About Ruby Tuesday, Inc.
Ruby Tuesday, Inc. owns and franchises Ruby Tuesday brand restaurants. As of February 28, 2017, there were 607 Ruby Tuesday restaurants in 41 states, 14 foreign countries, and Guam. Of those restaurants, we owned and operated 544 Ruby Tuesday restaurants and franchised 63 Ruby Tuesday restaurants, comprised of 17 domestic and 46 international restaurants. Our Company-owned and operated restaurants are concentrated primarily in the Southeast, Northeast, Mid-Atlantic, and Midwest of the United States, which we consider to be our core markets. For more information about Ruby Tuesday, please visit www.rubytuesday.com. Ruby Tuesday, Inc. is traded on the New York Stock Exchange (Symbol: RT).
Christine Beggan, 203-682-8329
Melissa Calandruccio, CFA, 646-277-1273