Wingstop Inc. has signed new deals to expand into Colombia and Panama, the company said Friday.
The Dallas-based chicken wing chain has signed an agreement with Colowing S.A. de C.V to open 30 new franchised locations in the two Latin American countries over the next five years.
The 914-unit chain already has more than 60 international locations in Indonesia, Mexico, the Philippines, Singapore and the United Arab Emirates.
Antonio Ortiz Dominguez, majority partner in Wingstop’s first international group in Mexico, serves as the majority partner in the Panama and Colombia development company.
Ortiz launched Wingstop's first international location in Mexico, in 2009, and also operates Domino’s and BurgerFi franchises. His company has 39 Wingstop locations in Mexico, with is the brand’s largest non-domestic market.
Ricardo Ibarra, former general manager of Alsea Colombia, will serve as managing partner in the Panama and Colombia Wingstop operations. Ibarra has worked with Alsea’s Burger King, Chili’s Grill & Bar and Domino’s brands.
“Based on my knowledge of the Colombian customer and prior experience introducing well-known restaurant brands into the region, I am confident that this will be an extremely successful market for Wingstop,” Ibarra said in a statement.
The first Colombia locations are planned for Bogotá and Cali, the companies said.
"We look forward to partnering with Colowing in the development of these 30 new Wingstop locations," said Larry Kruguer, Wingstop president of international.
"The five-year plan for those two markets will focus on rapid development and scalability, and will lay the foundation for additional locations, while kickstarting our growth throughout the Latin American region,” he added.
Wingstop, founded in 1994, is a former division of Atlanta-based Roark Capital Group. The company went public in June 2015.
Contact Ron Ruggless at [email protected]
Follow him on Twitter: @RonRuggless
