(BRK.A), (BRK.B)
International Dairy Queen, Inc. has signed a multi-unit development agreement to expand into the Republic of Korea with plans to open 50 DQ Grill & Chill locations within the next five years.
The agreement is with the privately held M2G USA Investment, Inc., whose diversified business portfolio includes ownership of restaurants, hotels, public storage businesses, household appliance manufacturing, shoes and an extensive global real estate portfolio.
“The DQ® brand continues to expand in new international markets,” said John Gainor, President and CEO of International Dairy Queen, Inc. (IDQ). “We are looking forward to working with M2G USA Investment to bring our renowned menu, signature treats and quality service to the Republic of Korea.”
The DQ Grill & Chill locations in Korea will serve a full range of food options including its signature GrillBurgers™, fan favorite chicken strip baskets, chicken sandwiches, a variety of salads and sandwiches. The DQ Grill & Chill restaurants will also feature the full menu of its world famous DQ treats, including the signature Blizzard® Treats, MooLatté Frozen Coffee Flavored Beverages, soft-serve cones with the signature curl on top, sundaes and DQCakes.
“Our goal is to be the most desirable QSR (Quick Service Restaurant) company in Korea that believes in the vision of people, product and process,” said John Park of M2G USA Investment, a partner in the ownership of Taco Bell restaurants in Korea and in the U.S. “DQ is one of the most respected, exceptional and popular brands in the world. We are thrilled to partner with the DQ system here in Korea.”
The DQ system has more than 6,700 locations with more than 2,200 of those units operating outside of the United States.
For more information on Dairy Queen’s world-wide plans, read a Mazor’sEdge special report on Dairy Queen.
© 2016 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.