Buenos Aires-based Arcos Dorados Holdings Inc, the largest operator of McDonald’s restaurants in the world, has seen its shares gain 90 percent over the past year while the U.S. company added 35 percent.
Arcos Dorados, which currently operates 2,160 restaurants in Latin America, expects growth in Brazil and Argentina to continue rising and is stepping up investment in preparation, said Sergio Alonso, chief executive officer of Arcos Dorados. The company is investing $500 million through 2019 to open 180 new restaurants and update existing ones. About two-thirds of the cash will be spent in Brazil, the largest market of the 20 countries in which the company operates.
“Our growth dynamic continues,” Alonso said in an interview. “Both the economies of Argentina and Brazil have a better perspective. They’re growing in a very progressive way, so we’re focusing on retaining clients and gaining new ones.”
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