Rubio's Restaurants, Inc. today announced the signing of a new franchise agreement and its 2006 development plans.
Rubio's and Food Courts of Nevada LLC ("FCON") have agreed to a five year, five restaurant development agreement in Las Vegas, Nevada. FCON specializes in casino food courts and currently operates as a franchisee of Subway, Wienerschnitzel, Noble Roman Pizza, Dreyer's Ice Cream, Starbucks and Manchu Wok. FCON has a signed lease with Station's Red Rock Casino Resort and Spa and expects to open their first Rubio's in April, 2006. Rubio's has four other franchised non casino locations in the Las Vegas market.
The Company estimates opening 10-12 restaurants in 2006, mostly in the last half of the year. One restaurant in Downey, California opened earlier this month. The Company plans on re-imaging 30 restaurants by the end of April, 2006.
"While the Company's focus will continue to be primarily on Company owned stores, we are delighted that a franchisee of FCON's caliber, experience and proven success has chosen Rubio's to partner with," said Ralph Rubio, Rubio's CEO.