Dallas, TX (RestaurantNews.com) Fogo de Chão (NASDAQ:FOGO) will open five new Company-owned restaurant locations in the United States. Fogo opened its first U.S. restaurant in 1997 in Dallas, Texas, and currently operates 26 Company-owned locations across 16 states and the District of Columbia. Over the next five years, Fogo plans to grow the company-owned restaurant count by at least 10% annually, with the long term goal of at least 100 additional churrascarias in the United States, in addition to international expansion with qualified joint venture partners. The Brazilian steakhouse, or churrascaria, which specializes in fire-roasting high-quality meats utilizing the centuries-old Southern Brazilian cooking technique of churrasco, is pleased to bring its celebrated hospitality experience to new guests in Summerlin, NV, The Woodlands, TX, San Francisco, CA, Naperville, IL and New Orleans, LA. At least three of these locations are scheduled to open in 2015 following recent openings in Puerto Rico, a second location in Rio de Janeiro, and a joint venture location in Mexico City.
The five new locations include the following:
“As a part of our ongoing commitment to grow our operations across the United States, we are excited to be expanding our presence in existing markets and debuting our first location in Louisiana,” said Larry Johnson, Chief Executive Officer of Fogo de Chão. “We have built a strong brand with a passionate following and look forward to opening our newest locations as we continue executing on our steady growth path.”
Fogo de Chão is a leading Brazilian steakhouse, or churrascaria, offering guests a wide variety of simply seasoned meats that are carefully fire-roasted to expose their natural flavors. Some of those meats include the house specialty picanha sirloin, filet mignon, ribeye, lamb chops, center-cut bone-in pork chop and chicken wrapped in bacon.
Additionally, Fogo offers a gourmet Market Table with an abundance of seasonal salads, fresh vegetables, hot side dishes, a charcuterie area, smoked salmon and Southern Brazilian side dishes. To further complement the dining experience, the restaurant offers an award-winning wine list, tempting dessert menu, and creative and classic cocktails. Guests can also choose between the lighter seafood selections or enjoy the gourmet Market Table only option.
About Fogo de Chão
Fogo de Chão (fogo-dee-shoun) is a leading Brazilian steakhouse, or churrascaria, which has specialized for over 35 years in fire-roasting high-quality meats utilizing the centuries-old Southern Brazilian cooking technique of churrasco. Fogo delivers a distinctive and authentic Brazilian dining experience through the combination of high-quality Brazilian cuisine and a differentiated service model known as espeto corrido (Portuguese for “continuous service”) delivered by gaucho chefs. Fogo offers its guests a tasting menu of meats featuring up to 20 cuts, a gourmet Market Table with seasonal salads and fresh vegetables, seafood, desserts, signature cocktails and an award-winning wine list. The first Fogo de Chão opened in Brazil in 1979. The Company currently operates 26 restaurants in the United States, 10 in Brazil and one joint venture restaurant in Mexico. The Company’s stock is traded on the NASDAQ under the symbol FOGO. Visit FOGO.com for more information.
This release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties. Forward-looking statements relate to expectations, beliefs, projections, guidance, future plans, objectives and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts, such as statements regarding our future financial condition or results of operations, our prospects and strategies for future growth, the development and introduction of new products, and the implementation of our marketing and branding strategies. Forward-looking statements can also be identified by words such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “seeks,” “intends,” “targets” or the negative of these terms or other comparable terminology. Forward-looking statements are not guarantees of future performance and actual results may differ significantly from the results discussed in the forward-looking statements. Factors that might cause such differences include, but are not limited to, those discussed in the section entitled “Risk Factors” in our final prospectus filed on June 19, 2015. Except as required by applicable securities law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.
Kristina Jorge, ICR