Fogo de Chão Announces Expansion Into Bolivia for the First Time

DALLAS, Dec. 15, 2022 (GLOBE NEWSWIRE) — Fogo de Chão, the internationally-renowned restaurant from Brazil that allows guests to make discoveries at every turn, today announced its planned entrance into Bolivia with the signing of a franchise development agreement with Ventura Brands LLC. Ventura Brands LLC is part of The DAHER Group of Companies and is set to develop three Fogo locations in Bolivia. The DAHER Group includes several well-known companies across industries such as retail, restaurants, luxury automotive services and technology. This announcement follows Fogo’s recently announced plans to enter Costa Rica, El Salvador, Canada and the Philippines and marks a significant step in the company’s execution of its international expansion plans. The DAHER Group joins Fogo’s existing international franchise partners in Canada, Philippines, Mexico and the Middle East.

With 70 locations worldwide and growing, earlier this year Fogo announced a 15 percent planned annual growth rate through company-owned restaurants, with an additional international capital light franchise development strategy. This includes 8-10 company-owned restaurants and 1-2 international franchise restaurant openings this year, backed by a strong pipeline of new restaurant development, to meet demand in new and existing markets. Fogo’s newest openings include restaurants in El Segundo, Calif., Coral Gables, Fla., Friendswood, Texas, Rio de Janeiro, Brazil, Queens, N.Y., Reston, Va. and Monterrey, Mexico.

“As a company founded in Southern Brazil, we are honored to partner with Abdallah Daher, Founder & CEO and Sergio Loma, General Manager, and their accomplished team at The DAHER Group and Ventura Brands to bring Fogo to our Bolivian neighbors,” said Barry McGowan, Chief Executive Officer of Fogo de Chão. “This agreement marks an important step as we continue to scale our brand internationally. We look forward to bringing the culinary art of churrasco to Bolivia and welcoming our local guests soon.”

Founded by Abdallah Daher, The DAHER Group operates prominent and respected businesses across several sectors. Additionally, The DAHER Group owns and operates Ventura Mall, the largest, most successful mall in Bolivia and franchises several retail and restaurant brands within the mall including Hard Rock Café, Johnnie Rockets, Mango, Calvin Klein, Hugo Boss and Armani Exchange. Sergio Loma, General Manager of Ventura Mall, will oversee the development of the Fogo brand in Bolivia.

“We are proud to partner with Fogo de Chão and see tremendous value in the brand that has proven success across the globe,” said Abdallah Daher, Founder of The DAHER Group. “Incredible hospitality and fire-roasted steaks are such an important part of the Bolivian dining culture. We believe Fogo’s upscale dining experience will be celebrated by locals and visitors alike.”

Founded in Southern Brazil in 1979, Fogo de Chão is a nearly 45-year-old brand known for its dining experience of discovery and showcasing the culinary art of churrasco where guests can watch as gaucho chefs butcher, hand-carve and grill high-quality cuts of protein over an open flame. With a modern, timeless design and signature offerings including a fresh and seasonal Market Table and an award-winning Bar Fogo menu featuring hand-crafted cocktails and South American wines, Fogo has become a destination of choice by both brand advocates and new guests globally.

For more information about Fogo de Chão, visit fogo.com. To learn more about global franchising opportunities, visit fogo.com/global-development/.

About Fogo de Chão
Fogo de Chão (fogo-dee-shown) is an internationally renowned restaurant that allows guests to discover what’s next at every turn. Founded in Southern Brazil in 1979, Fogo elevates the centuries-old cooking technique of churrasco – the art of roasting high-quality cuts of meat over an open flame – into a cultural dining experience of discovery. In addition to its Market Table and Feijoada Bar – which includes seasonal salads and soup, fresh vegetables, imported charcuterie and more – guests are served simply-seasoned meats that are butchered, fire-roasted and carved tableside by gaucho chefs. Guests can also indulge in dry-aged or premium Wagyu cuts, seafood a la carte, All-Day Happy Hour including signature cocktails, and an award-winning South American wine list, as well as smaller, sharable plates in Bar Fogo. Fogo offers differentiated menus for all dayparts including lunch, dinner, weekend brunch and group dining, plus full-service catering and contactless takeout and delivery options. For locations and more information about Fogo de Chão, visit fogo.com.

About DAHER Group
The Daher Group is a representative and successful business conglomerate in Bolivia with more than 40 years of commercial and business history, recognized for its contribution to business development and developer of highly recognized global brands including Hard Rock Café, Johnnie Rockets, Mango, Calvin Klein, Hugo Boss and Armani Exchange.

Earlier in 2022, Fogo de Chão opened the doors to its newest Brazil location at Rio de Janeiro’s BarraShopping, one of the largest retail and dining destinations in South America. https://fogodechao.com/newsroom

In December 2022, Fogo opened its newest New York City restaurant in Queens across from Queens Center Mall. https://fogodechao.com/newsroom

Fogo opened the Reston, Va. location in December 2022, marking the 70^th location globally for the brand. https://fogodechao.com/newsroom

Guests can enjoy new brand extensions such at the Next Level Lounge and The Butchery in the recently opened Coral Gables, Fla. location. https://fogodechao.com/newsroom

Media Contact:
FogoPR@icrinc.com

Photos accompanying this announcement are available at
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