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Smashburger to build five new restaurants in Panama

RBR Staff Writer Published 30 April 2013

Smashburger, a burger restaurant concept in the US, and quick service restaurant developer QSR International have entered into a new partnership deal with Diqueos Tagaropulos and his company, Inversiones Platinum Brands, to develop the brand in Panama.

The agreement calls for the development of five new Smashburger restaurants in Panama over the next six years. The first Panama outlet, under the plan, is expected to open in 2014.

Smashburger believes that this agreement will fuel its growth in Central America and represents the second territory in the region, with locations in Costa Rica in Moravia, San Jose and the Juan Santamaria International Airport scheduled to open this spring.

Inversiones Platinum Brands opened Wing Zone's first international location in Panama in 2010 and now operates five restaurant locations in the region. Smashburger is the second restaurant concept for the company.

Smashburger chairman and CEO Dave Prokupek said, "We are pleased with the progress of Smashburger's international expansion, with Panama representing our fifth international country, and are fortunate to work with leading franchise partners to develop and grow our global presence."

Further, the restaurant chain is looking to expand across the world through new partnerships including Toronto, Vancouver and Montreal, as well as Central America, South America, the UK and Asia.

Smashburger currently has more than 200 corporate and franchise restaurants operating in 29 states and in four international countries.