Mexico's Alsea, the largest restaurant operator in Latin America, announced Tuesday that it will invest some $85 million to open some 30 P.F. Chang's China Bistro restaurants in Brazil.
Alsea operates Burger King, Domino's Pizza, Chili's Bar & Grill, California Pizza Kitchen and Starbucks outlets, among others.
P.F. Chang's China Bistro is the leader in casual Asian dining in the United States and has a presence in Mexico, Canada, Kuwait, Lebanon, Chile, The Philippines and the United Arab Emirates, Alsea said.
The firm said that Brazil is the region's most important economy, with 190 million citizens and a beverage and food industry valued at some $60 billion.
"This reaffirms the opportunity and potential for growth that Alsea expects in Brazil," said Alsea general director Fabian Gosselin.
The agreement to operate the P.F. Chang brand in Brazil includes the opening of the first restaurant in Sao Paulo at the end of this year and a total of 30 restaurants over the next 10 years.
At the end of 2012, Alsea operated 1,421 restaurants in Mexico, Argentina, Chile and Colombia. EFE