ALSEA REACHES AN AGREEMENT TO TRANSFER
P.F. CHANG'S RIGHTS IN ARGENTINA
Mexico City, August 21, 2019 - Alsea, S. A. B. de C. V. (BMV: ALSEA*), the leading operator of Quick Service Restaurants, Coffee Shops, and Casual Dining establishments in Latin America and Europe informs that it has concluded an agreement with a local business group to completely transfer the brand rights, operation and development commitments of P.F. Chang's in Argentina. As part of this agreement, the new operator will manage the operation of the single unit of P.F. Chang's existing in that country, as well as the continuation of the development of the brand in the Argentinean territory. This operation is aligned with the portfolio restructuring strategy and search for efficiencies in order to increase the company's profitability.
This press release contains certain forward-looking statements that reflect the current views and/or expectations of Alsea and its management with respect to its performance, business and future events. We use words such as "believe", "anticipate", "plan", "expect", "intend", "target", "estimate", "project", "predict", "forecast", "guideline", "should" and other similar expressions to identify forward-looking statements, but they are not the only way we identify such statements. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this release. Alsea is under no obligation and expressly disclaims any intention or obligation to update or revised any forward-looking statements, whether as a results of new information, future events or otherwise.
Alsea is the leading restaurant operator in Latin America and Spain of global brands in the quick service, coffee shop, casual and family dining segments. It has a diversified portfolio, with brands such as Domino's Pizza, Starbucks, Burger King, Chili's, P.F. Chang's, Italianni's, The Cheesecake Factory, Vips, Vips Smart, El Portón, Archies, Foster's Hollywood, LAVACA, Cañas y Tapas, Gino's, TGI Fridays y wagamama. The company operates close to 4,500 units and has more than 85,000 employees in Mexico, Argentina, Chile, Colombia, Brazil, Uruguay, Spain, France, Portugal, Netherlands, Belgium Luxembourg and Andorra. Alsea's business model includes support for its brands through a Shared Services Center that provides all the Administrative and Development Processes, as well as the Supply Chain.
For more information, visit: www.alsea.com.mx
About P.F. Chang's
Founded in 1993 by Philip Chiang and Paul Fleming, P.F. Chang's is the first internationally recognized multi-unit casual dining restaurant concept to honor and celebrate the 2,000-year-old tradition of wok cooking as the center of the guest experience. Since inception, P.F. Chang's chefs have been hand-rolling dim sum, hand chopping and slicing all vegetables and meats, scratch cooking sauces and wok-cooking each dish, every day in every restaurant. P.F. Chang's scratch menu highlights its wholesome, made-to-order-cooking approach and introduces new dishes and drinks for lunch, happy hour and dinner. Today, P.F. Chang's has more than 300 restaurants around the world including 24 countries and U.S. airport locations. For more P.F. Chang's news, visit pfchangs.com and follow us on Facebook, Twitter and Instagram @pfchangs
Alsea shares are traded on the Mexican Stock Exchange under the ticker symbol ALSEA*
Salvador Villaseñor Barragán Investor Relations Telephone: (5255) 7583-2000 firstname.lastname@example.org