MONTEVIDEO, Uruguay--(BUSINESS WIRE)--Arcos Dorados Holdings Inc. (NYSE:ARCO) (“Arcos Dorados” or the “Company”), Latin America’s largest restaurant chain and the world’s largest independent McDonald’s franchisee, announces that we are in the process of making a full assessment of the impact to our employees and operations from hurricanes Irma and Maria in the Caribbean and recent earthquakes in Mexico. As of the date of this press release, we are not aware of any loss of life among our employees or their families.
The Company maintains both property and business interruption insurance, which it expects will offset any potential short-term impact on its operations or financial results.
In Mexico, Arcos Dorados and our sub-franchisees have reopened substantially all of the nearly 390 restaurants in the country. However, given the impact of the hurricanes, most of our more than 100 restaurants in Puerto Rico and the US Virgin Islands remain closed.
The repair and reconstruction of restaurants will commence as soon as possible in each market.
Our primary focus is on providing support to our employees and their families, as well as delivering aid to local authorities and search and rescue teams responding to the natural disasters, wherever possible.
About Arcos Dorados
Arcos Dorados is the world’s largest independent McDonald’s franchisee in terms of systemwide sales and number of restaurants, operating the largest quick service restaurant (“QSR”) chain in Latin America and the Caribbean. It has the exclusive right to own, operate and grant franchises of McDonald’s restaurants in 20 Latin American and Caribbean countries and territories, including Argentina, Aruba, Brazil, Chile, Colombia, Costa Rica, Curaçao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the U.S. Virgin Islands of St. Croix and St. Thomas, and Venezuela. The Company operates or franchises over 2,100 McDonald’s-branded restaurants with over 90,000 employees and is recognized as one of the best companies to work for in Latin America. Arcos Dorados is traded on the New York Stock Exchange (NYSE: ARCO). To learn more about the Company, please visit the Investors section of our website: www.arcosdorados.com/ir.