Love's, AAFES Sign Development Deals With Arby's

ATLANTA – Love's Travel Stops & Country Stores and the Army and Air Force Exchange Service (AAFES) signed separate development agreements with Arby's Restaurant Group Inc.

A franchisee with the Arby's system since 1999, Love's currently owns and operates 48 Arby's restaurants in its locations throughout Alabama, Arizona, California, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, Missouri, Nebraska, Nevada, New Mexico, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah and Virginia, according to the announcement.

AAFES opened its first Arby's restaurant at Fort Bliss in Texas in 2010. Since then, it has opened 10 more Arby's, including a second unit at Fort Bliss in 2013. The others are located at Fort Benning, Fort Carson, Fort Meade, Nellis Air Force Base, Edwards Air Force Base, Hill Air Force Base, Fort Eustis, Joint Base San Antonio-Lackland and Fort Stewart.

"These are exciting times for the Arby's brand," said Arby's Restaurant Group President and Chief Operating Officer George Condos. "Our sales momentum and increased pipeline of innovative products have positioned Arby's for continued growth. Our franchisees are equally passionate about expanding the brand's presence and recognize the big opportunities that lie ahead."

Other new and existing franchisees also signed development agreements, according to Arby's. The United States Beef Corp., Arby's largest franchisee, signed an agreement to open 38 new restaurants in the Colorado market over the next seven years. It recently purchased 48 Arby's in Colorado, Idaho and Wyoming.

Arby's also recently sold 14 company-operated restaurants in Tampa, Fla., to Mosaic Investments Inc. The firm will remodel the existing locations starting at the end of 2014 and has committed to building 13 new Arby's restaurants in the Tampa area over the next nine years.

In total, Arby's has 211 development commitments for new restaurants globally as of the first quarter of 2014, the company reported.