Churrascaria chain announces new joint-venture restaurants
.svg?width=1280&auto=webp&quality=95&format=jpg&disable=upscale "Nation's Restaurant News")
Fogo de Chão Inc. plans to open its first restaurant in Saudi Arabia and its second in Mexico, the company said Thursday.
The Dallas-based churrascaria chain said the two new international joint-venture locations are among five the company has announced in its development pipeline, including new company-owned units in Georgia, Texas and Virginia.
“These new domestic locations and international joint-venture partnerships are perfectly aligned with our strategic vision and growth plans,” said Larry Johnson, Fogo de Chão CEO, in a statement.
The operator has committed to growing company units by 10 percent a year over the next five years, and to developing in key international markets through joint ventures.
Fogo de Chão said the Saudi Arabia location, its first in the Middle East, will be in Jeddah and developed in a joint-venture partnership with the Enany Group. The restaurant will be in Jeddah Square, near the North Corniche and high-end shopping.
The company’s second Mexico City location, in the Santa Fe area, will follow the company’s launch last year in the Polanco district. Developed with joint-venture partner The Lacador Group, the second unit will be near a large retail mall and high-end hotels, Fogo de Chão said.
Fogo de Chão opened new domestic restaurants earlier this year in Naperville, Ill., in January and King of Prussia, Pa., in July. The next three locations include Dallas’ Uptown neighborhood; Dunwoody, Ga., in suburban Atlanta; and Tysons, Va., the second location in the Washington, D.C., area. Future locations will be in Bellevue, Wash.; Plano, Texas; and Pittsburgh.
Fogo de Chão, founded in Brazil, opened its first U.S. restaurant in Dallas in 1997 and went public in 2015. It operates 42 company-owned locations in the United States and 10 restaurants in Brazil.
Contact Ron Ruggless at [email protected]
Follow him on Twitter: @RonRuggless
