Taco Bell signs first two master franchise agreements to expand in Brazil and Spain

The deals will add over 400 new sites in the coming decade.

With the aim of becoming a $15 billion brand by 2022, Taco Bell has announced that it has signed its first two master franchise agreements with Sforza Holding Group in São Paulo, Brazil and Casual Brands Group (CBG) in Spain.

Through the deals, both groups will be the largest franchisees by store count.

"We have found two strong partners in both Sforza and CBG, and I am confident they will take our California-inspired brand to new heights in the coming decade," Taco Bell international president Liz Williams said in a statement.

Sforza Holding Group, led by founder and CEO Carlos Wizard Martins and his son, Taco Bell Brazil CEO Lincoln Martins, started working with Taco Bell International in 2016. The Martins family currently own and operate all Taco Bell restaurants in Brazil. Through the agreement, more than 200 sites are targeted to open in São Paulo by 2027.

Similarly, CBG - led by CEO Ignacio Mora-Figueroa - has been working with the Taco Bell brand since 2008 and currently owns and operates 40 Taco Bell restaurants throughout Spain. Their agreement with Taco Bell also guarantees that more than 200 restaurants will be built over the next decade, projected to create more than 4,200 new jobs in Spain.

By the end of 2018, Taco Bell expects to have more than 500 restaurants in 27 markets around the world.

By 2022, they look to expand the brand's international footprint to 1,000 restaurants and plans to have a total of 9,000 restaurants globally in the same year.

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