Wendy's (WEN) Announces New Development Agreements in the Central Asia Region

The Wendy's Company (Nasdaq: WEN), the owners of Kusto Group, and Global Investors Limited ("Wissol Group") announced today three strategic development agreements to expand Wendy's® brand presence in the Central Asia Region over the next nine years.

Together, these partners will help deliver on Wendy's strategic growth pillar of expanding the brand's footprint, bringing the Wendy's presence to a total of 65 restaurants across The Republic of Georgia, Uzbekistan and Kazakhstan by 2030. To initiate the development plans, Kusto Group and Wissol Group opened the first two Wendy's restaurants in Kazakhstan located in the historic center of Almaty earlier this year, along with opening a new drive-thru only restaurant in May located on a Wissol gas station in the Gelovani district of Tbilisi, Georgia.

Abigail Pringle, President, International and Chief Development Officer of The Wendy's Company, said, "We're excited to expand Wendy's presence across the Central Asia Region with world-class, experienced franchisees that have strong operations experience, local development expertise and a proven track record for growing brands internationally. Kusto Group and Wissol Group, and their owners and affiliates, share our values and passion for quality and exceptional customer service. We firmly believe that our great-tasting, signature menu items – featuring made-to-order hamburgers, premium chicken sandwiches, fresh salads, fries, chili and Frosty® desserts – will appeal to consumers who are looking for more options and high-quality food at a great price."

Yerkin Tatishev, Chairman of the Board of Directors of Kusto Group, said, "Customers should expect high-quality, fresh products and ingredients from Wendy's. It is very important to our organization that menu items are prepared and sourced locally, working with farmers and suppliers in both Kazakhstan and Uzbekistan to deliver on Wendy's elevated menu standards."

Dr. Samson Pkhakadze, President of Wissol Group said, "We've been a proud Wendy's franchisee since we opened the first Wendy's restaurant in Georgia in 2014. We are thrilled to grow the Wendy's brand in Georgia, and to partner with Kusto Group, and their owners and affiliates, to bring Wendy's to Kazakhstan and Uzbekistan after making the brand a favourite restaurant in Georgia. Wendy's is a well-established, iconic global brand, and is known for quality. We have every confidence that the brand will also be successful and beloved by customers in the Central Asia Region."

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