Buffalo Wild Wings to Enter Philippines Market
MINNEAPOLIS (AP) — Buffalo Wild Wings is furthering its global expansion, planning to enter the Philippine market through a development agreement with one of the country's restaurant operators.
Financial terms were not disclosed.
Matt Brokl, vice president of international development at Buffalo Wild Wings Inc., said in a statement on Wednesday that the Philippines was a logical choice because it is one of Asia's fastest growing economies. The country's middle class is also growing and has an interest in casual dining, he added.
The agreement with The Bistro Group includes Buffalo Wild Wings restaurants planned for Makati City and the Manila area. Construction is expected to start this year.
Buffalo Wild Wings' international expansion efforts include 13 restaurants in Canada. The Minneapolis company also expects to open its first restaurants in Mexico and the Middle East this year.
Last month, Buffalo Wild Wings reported that its second-quarter profit rose 41 percent, boosted by new store openings and lower chicken wing prices.
Shares of Buffalo Wild Wings added 31 cents to $105.34 in morning trading.