Brazilian food chain to invest US$26 million in DR
International Meal Company Holdings, Inc. (IMC), the largest food retail chain dealer for multiple restaurant brands in Brazil and with international operations in the Dominican Republic Mexico and Puerto Rico, has announced it has raised more than US$100 million through a private placement to institutional investors to fund its aggressive expansion plan.
Of this amount, IMC will invest US$26 million on growth of its businesses in the Dominican Republic. According to Jose Algarin, CEO of IMC Caribbean and Central America, the injection of cash will go to their expansion in the country. The US$26 million will be invested immediately in order to carry out renovations, new businesses and acquisitions in a period no longer than 60 days he said.
The capital investment earmarked for the development of the Dominican Republic is intended for the BMI outlets in the airports of Punta Cana, Samana and Las Americas.
IMC commenced operations in 2006 through the acquisition of "The Mansion", one of the best known restaurant chains in Mexico. Today the group has about 200 shops and restaurants in airports and shopping centers in Brazil, Mexico and the Caribbean, and over 7,000 employees.
Published in
Dominican Republic News Archive
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