IRVINE, Calif. -- Taco Bell continues its rapid global expansion by signing its first-ever master franchise agreements, continuing its path to becoming a $15 billion brand by 2022.
Also read, Taco Bell Continues its Journey to Become a $15 Billion Company by 2022.
Recently, Taco Bell, the world's largest restaurant chain in the Mexican category, announced that the brand, in collaboration with two key franchisees, Sforza Holding Group in São Paulo, Brazil and Casual Brands Group (CBG) in Spain, entered into its first master franchise agreements. These deals make both groups two of the largest Taco Bell franchisees globally by store count.
"We are thrilled to be partnering with two talented organizations in our first two master franchise agreements. This growth will take us further down the path of becoming a truly global brand," said Liz Williams, President, Taco Bell International. "We have found two strong partners in both Sforza and CBG, and I am confident they will take our California-inspired brand to new heights in the coming decade."
Sforza Holding Group, led by founder and CEO Carlos Wizard Martins and his son, Taco Bell Brazil CEO Lincoln Martins, began working with Taco Bell International in 2016. The Martins family, who own and operate all Taco Bell restaurants currently open in Brazil, set a Taco Bell development record with the opening of more than 20 restaurants in less than two years. By 2027, the state of São Paulo, Brazil will be home to more than 200 Taco Bell restaurants.
CBG, led by CEO Ignacio Mora-Figueroa, has been working with the Taco Bell brand since 2008 and currently owns and operates 40 Taco Bell restaurants throughout Spain. In 2016, CBG won Taco Bell's prestigious International Franchisee of the Year Award, which recognized them as a valuable global partner. The agreement signed between Taco Bell and CBG guarantees that more than 200 restaurants will be built over the next decade, adding more than 4,200 new jobs in Spain.
This news comes after a period of rapid expansion from the brand, having opened eight new markets since 2016, including China, Australia, Finland, the Netherlands, Scotland, Sri Lanka, Romania and most recently, Peru. By the end of 2018, Taco Bell will have more than 500 restaurants in 27 markets around the world, with the goal of expanding the brand's international footprint to 1,000 restaurants by 2022. In the United States, the brand and its franchisees operate more than 7,000 restaurants. By 2022, the brand plans to operate 9,000 restaurants globally.
SOURCE Taco Bell Corp.
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