Quaker Steak & Lube on track to open 11 restaurants in 2012

Sharon, Pa. -- Casual-dining chain Quaker Steak & Lube said Monday it has opened its 50th restaurant in Lakewood, Ohio, and is on track to open 10 additional restaurants this year. The brandalsowill be expanding to six new markets with five franchise groups over the next several years.

"Over the past six months, we signed agreements to develop 11 new restaurants around the country, including three corporate locations in Texas," said John Longstreet, president and CEO.

A multi-unit franchise agreement was signed with Blue Sky Development to develop three franchised restaurants in Fargo, N.D., and Rapid City and Sioux Falls, S.D. The company also announced plans to develop one new franchised restaurant in Waco, Texas, this fall, three corporate-owned locations in Dallas-Ft. Worth by 2014, and an area development agreement for three new franchised restaurants throughout Philadelphia over the next several years.

Additionally, restaurants are planned to open later this year in New Jersey, Kentucky, South Carolina, Ohio, and Pennsylvania.