Sizzler International Inc. (NYSE:SZ) yesterday announced at its annual shareholders’ meeting that the company will change its name to Worldwide Restaurant Concepts Inc., effective Tuesday, Sept. 4. The company’s ticker symbol on the New York Stock Exchange will remain “SZ.”
With the company’s Sizzler® operations in the United States and Asia, KFC® restaurants in Australia, and Pat & Oscar’s(SM) in California and Arizona, the new name more accurately reflects the company’s international presence and position as a multinational, multiconcept restaurant company.
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“We are pleased with the success of our re-imaging program for U.S. Sizzler® restaurants and with the continued growth of our international Sizzler® operations. However, the addition last year of Pat & Oscar’s(SM) restaurants as a division of the company and our continuing strong Australian KFC® operations, take us well beyond the Sizzler name and operations,” said Charles Boppell, president and chief executive officer of Sizzler International.
“We are continuing to make significant gains with our business strategy and believe the change to Worldwide Restaurant Concepts truly captures the brand and geographic diversity of the company,” concluded Boppell.
Business Overview
Following is an overview of the three concepts that make up Worldwide Restaurant Concepts Inc.:
Brand Restaurants Locations
Sizzler(R) 97 company-owned 17 states, 2 U.S. territories
247 franchise and 9 countries
KFC(R) 105 company-owned Australia, principally
Queensland
Pat & Oscar’s(SM) 11 company-owned Southern California and Phoenix
To the extent that certain statements contained in this document may be deemed under federal securities laws to be forward-looking statements, Sizzler intends that they be subject to the safe-harbor applicable to forward-looking statements under such laws.
