Buffett's Dairy Queen to expand into Egypt, Macau
NEW YORK (Reuters) - International Dairy Queen, the ice cream retailer owned by Warren Buffett's Berkshire Hathaway Inc (BRKa.N) (BRKb.N), said on Tuesday that it planned in 2010 to open its first stores in Egypt and Macau.
Dairy Queen said Egyptian-run Boraie Development would open the first DQ Grill & Chill restaurant in Cairo this summer. It said there was "potential" to open 40 to 50 restaurants in four or five additional Egyptian cities.
The company also said the Hon Hoi Group (International) Co planned to open a Dairy Queen in Macau this spring and a second location in the region later this year. It said Hon Hoi operates restaurants in Macau, China and Canada.
Based in Minneapolis, Dairy Queen said it had more than 5,700 stores in 19 countries, including 652 locations outside the United States and Canada.
Berkshire bought Dairy Queen in 1998. Buffett, 79, is the world's second-richest person, and habitually snacks on a $1 Dairy Queen dessert prior to Berkshire's annual meetings on Saturday mornings in its Omaha, Nebraska, hometown.
(Reporting by Jonathan Stempel; Editing by Lisa Von Ahn)
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