<SEC-DOCUMENT>0000950103-17-000136.txt : 20170104
<SEC-HEADER>0000950103-17-000136.hdr.sgml : 20170104
<ACCEPTANCE-DATETIME>20170104171716
ACCESSION NUMBER:		0000950103-17-000136
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20170104
FILED AS OF DATE:		20170104
DATE AS OF CHANGE:		20170104

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Arcos Dorados Holdings Inc.
		CENTRAL INDEX KEY:			0001508478
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING PLACES [5812]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35129
		FILM NUMBER:		17506963

	BUSINESS ADDRESS:	
		STREET 1:		DR. LUIS BONAVITA 1294, OFFICE 501
		STREET 2:		WTC FREE ZONE
		CITY:			MONTEVIDEO
		STATE:			X3
		ZIP:			11300
		BUSINESS PHONE:		598 2626-3000

	MAIL ADDRESS:	
		STREET 1:		DR. LUIS BONAVITA 1294, OFFICE 501
		STREET 2:		WTC FREE ZONE
		CITY:			MONTEVIDEO
		STATE:			X3
		ZIP:			11300
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>dp71700_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 3.5pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 6-K</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6.85pt; text-align: center; text-indent: -6.85pt"><B>REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 <BR>
OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6.85pt; text-align: center; text-indent: -6.85pt">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">For the month of January, 2017</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->


<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Commission File Number: 001-35129</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 28pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Arcos Dorados Holdings Inc.</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact name of registrant as specified
in its charter)</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Dr. Luis Bonavita 1294, Office 501</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Montevideo, Uruguay, 11300 WTC Free
Zone</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Address of principal executive office)</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Indicate by check mark whether the registrant
files or will file annual reports under cover of Form&nbsp;20-F or Form 40-F:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 40%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 29%; font-size: 10pt; text-decoration: none; text-align: center"><FONT STYLE="font-size: 12pt">Form 20-F</FONT></TD>
    <TD STYLE="width: 14%; text-decoration: none"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-decoration: none">&nbsp;<FONT STYLE="font-size: 12pt"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></P></TD>
    <TD STYLE="width: 15%; font-size: 10pt; text-align: center; text-decoration: none"><FONT STYLE="font-size: 12pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 28%; font-size: 10pt; text-decoration: none; text-align: center"><FONT STYLE="font-size: 12pt">Form 40-F</FONT></TD>
    <TD STYLE="width: 14%; text-decoration: none; text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 12pt">&#111;</FONT><FONT STYLE="font-size: 12pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-decoration: none"><FONT STYLE="font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-decoration: none"><FONT STYLE="font-size: 12pt">Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation&nbsp;S-T&nbsp;Rule&nbsp;101(b)(1):</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-decoration: none"><FONT STYLE="font-size: 12pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 40%; border-collapse: collapse">
<TR STYLE="vertical-align: top; text-decoration: none">
    <TD STYLE="width: 29%; font-size: 10pt; text-decoration: none; text-align: center"><FONT STYLE="font-size: 12pt">Yes</FONT></TD>
    <TD STYLE="width: 14%; text-decoration: none; text-align: center"><FONT STYLE="font-size: 12pt">&nbsp;<FONT STYLE="font-family: Wingdings">&#111;</FONT></FONT></TD>
    <TD STYLE="width: 15%; font-size: 10pt; text-align: center; text-decoration: none"><FONT STYLE="font-size: 12pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 28%; font-size: 10pt; text-align: center; text-decoration: none"><FONT STYLE="font-size: 12pt">No</FONT></TD>
    <TD STYLE="width: 14%; text-decoration: none"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-decoration: none"><FONT STYLE="font-size: 12pt">&nbsp;<FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></P></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-decoration: none"><FONT STYLE="font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-decoration: none"><FONT STYLE="font-size: 12pt">Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation&nbsp;S-T&nbsp;Rule&nbsp;101(b)(7):</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-decoration: none"><FONT STYLE="font-size: 12pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 40%; border-collapse: collapse">
<TR STYLE="vertical-align: top; text-decoration: none">
    <TD STYLE="width: 29%; font-size: 10pt; text-decoration: none; text-align: center"><FONT STYLE="font-size: 12pt">Yes</FONT></TD>
    <TD STYLE="width: 14%; text-decoration: none; text-align: center"><FONT STYLE="font-size: 12pt">&nbsp;<FONT STYLE="font-family: Wingdings">&#111;</FONT></FONT></TD>
    <TD STYLE="width: 15%; font-size: 10pt; text-align: center; text-decoration: none"><FONT STYLE="font-size: 12pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 28%; font-size: 10pt; text-align: center; text-decoration: none"><FONT STYLE="font-size: 12pt">No</FONT></TD>
    <TD STYLE="width: 14%; text-decoration: none"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-decoration: none">&nbsp;<FONT STYLE="font-size: 12pt"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></P></TD></TR>
<TR STYLE="vertical-align: top; text-decoration: none">
    <TD STYLE="font-size: 10pt; text-decoration: none; text-align: center">&nbsp;</TD>
    <TD STYLE="text-decoration: none">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; text-decoration: none">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; text-decoration: none">&nbsp;</TD>
    <TD STYLE="text-decoration: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-decoration: none">
    <TD STYLE="font-size: 10pt; text-decoration: none; text-align: center">&nbsp;</TD>
    <TD STYLE="text-decoration: none">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; text-decoration: none">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; text-decoration: none">&nbsp;</TD>
    <TD STYLE="text-decoration: none">&nbsp;</TD></TR>
</TABLE>
<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 3.5pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>ARCOS
DORADOS HOLDINGS INC.</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>TABLE
OF CONTENTS</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>ITEM</B></FONT></TD>
    <TD STYLE="width: 91%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">1.</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Press Release dated January 4, 2017 titled &ldquo;Arcos Dorados
    announces Key Appointments&rdquo; </FONT></TD></TR>
</TABLE>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>SIGNATURE</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt"><B>Arcos Dorados Holdings Inc.</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Juan David Bastidas</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 46%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="width: 33%"><FONT STYLE="font-size: 10pt">Juan David Bastidas</FONT></TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Legal Counsel</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">Date:
January 4, 2017</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>


<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="image_001.jpg" ALT=""></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Item
1</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B><U>FOR
IMMEDIATE RELEASE</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Arcos
Dorados Announces Key Appointments</B></FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; background-color: white; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>-
Mariano Tannenbaum Appointed Chief Financial Officer -</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; background-color: white; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>-
Dan Gertsacov Appointed Chief Marketing and Digital Officer -</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: #FEFEFE">Montevideo,
Uruguay, January 4, 2017 &ndash; Arcos Dorados (NYSE: ARCO) (&ldquo;Arcos Dorados&rdquo; or the &ldquo;Company&rdquo;), the world&rsquo;s
largest McDonald&rsquo;s franchisee operating in 20 countries in Latin America and the Caribbean, today announced the appointment
of Mariano Tannenbaum as Chief Financial Officer and Dan Gertsacov as Chief Marketing and Digital Officer.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: #FEFEFE">Mr.
Tannenbaum&rsquo;s appointment is effective on February 1, 2017 and he succeeds Jos&eacute; Carlos Alcantara, who has decided
to take on new personal and professional endeavors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: #FEFEFE">Mr.
Tannenbaum brings&nbsp;substantial experience as a financial executive, and has held various senior corporate positions at Arcos
Dorados since joining the firm in 2008, the most recent being Senior Director of Corporate Finance. In this role, he was responsible
for business planning and development, as well as management of the Company&rsquo;s financing structures. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: #FEFEFE">Previously,
Mr. Tannenbaum had an extensive international career in Europe and the United States, working as a Managing Director at the IFG
Group in Switzerland and Senior Treasury Manger at Tyco International. Earlier in his career he worked at Sabre Holdings in London.
He also worked for an economic consulting group in Argentina, and the Argentine government as part of the Ministry of Treasury
and Public Finances. Mr. Tannenbaum holds a BA in Economics from the Universidad de Buenos Aires, a Masters in Finance from the
Universidad Torcuato Di Tella and an MBA from the London Business School. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: #FEFEFE">&ldquo;Mariano
has been instrumental in the oversight of the Company&rsquo;s financial management over recent years, and has leveraged strong
regional and international relationships with the financial community to execute a number of innovative financings. Mariano&rsquo;s
deep financial expertise will be invaluable as we continue to capitalize on the long-term growth opportunity for the McDonald&rsquo;s
brand in Latin America. We wish Jos&eacute; Carlos the very best in his new endeavors and thank him for his service to the Company,&rdquo;
said Sergio Alonso, Chief Executive Officer of Arcos Dorados. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: #FEFEFE">In
addition, Dan Gertsacov has been promoted to Chief Marketing and Digital Officer and replaces Ra&uacute;l Mand&iacute;a, Vice
President of Marketing, who has decided to pursue new opportunities after 25 years of working in the McDonald's system. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; background-color: white; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><IMG SRC="image_002.jpg" ALT="">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; background-color: white; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><IMG SRC="image_001.jpg" ALT="">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: #FEFEFE">Mr.
Gertsacov joined the Company in 2014 as Chief Digital Officer, responsible for designing and implementing the Company&rsquo;s
digital strategy. His previous positions include Google&rsquo;s Head of New Markets in Latin America and the Caribbean, and Univision
Networks&rsquo; Vice President of New Business. He holds a BA from the University of Richmond and an MBA from Harvard Business
School.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: #FEFEFE">&ldquo;Arcos
Dorados&rsquo; presence in the digital space is crucial to the ongoing success of the McDonald's brand in the region. Dan has
the necessary experience to implement the Company&rsquo;s strategy to elevate the customer experience through the introduction
of innovative technologies. We would like to thank Ra&uacute;l for his substantial contributions and wish him the best for the
future,&rdquo; Mr. Alonso said. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: #FEFEFE"><B>About
Arcos Dorados</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #444444; background-color: #FEFEFE">Arcos
Dorados is the world&rsquo;s largest McDonald&rsquo;s franchisee in terms of systemwide sales and number of restaurants, operating
the largest quick service restaurant chain in Latin America and the Caribbean. It has the exclusive right to own, operate and
grant franchises of McDonald&rsquo;s restaurants in 20 Latin American and Caribbean countries and territories, including Argentina,
Aruba, Brazil, Chile, Colombia, Costa Rica, Cura&ccedil;ao, Ecuador, French Guyana, Guadeloupe, Martinique, Mexico, Panama, Peru,
Puerto Rico, St. Croix, St. Thomas, Trinidad &amp; Tobago, Uruguay and Venezuela. The Company operates or franchises over 2,100
McDonald&rsquo;s-branded restaurants with over 90,000 employees and is recognized as one of the best companies to work for in
Latin America. Arcos Dorados is traded on the New York Stock Exchange (NYSE: ARCO). To learn more about the Company, please visit
the Investors section of our website: </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: blue; background-color: #FEFEFE"><U>www.arcosdorados.com/ir</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Investor
Relations Contact</B><BR>
Daniel Schleiniger</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Vice
President Corporate Communications &amp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Investor
Relations</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #444444">Arcos
Dorados </FONT><BR>
<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #79A2BD"><U>daniel.schleiniger@ar.mcd.com</U></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #444444">+54
11 4711 2287</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR>
<FONT STYLE="color: #79A2BD"><U>www.arcosdorados.com/ir</U></FONT><BR>
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE; color: #444444"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #444444"><B>Media
Contact</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR>
<FONT STYLE="color: #444444">MBS Value Partners</FONT><BR>
<FONT STYLE="color: #444444">Katja Buhrer, +1 917-969-3438</FONT><BR>
<FONT STYLE="color: #79A2BD"><U>katja.buhrer@mbsvalue.com</U></FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: #FEFEFE"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; background-color: #FEFEFE">&nbsp;<IMG SRC="image_002.jpg" ALT=""></P>



<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 5; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>image_001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_001.jpg
M_]C_X  02D9)1@ ! 0   0 !  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" "F A # 2(  A$! Q$!_\0
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MU%?,/_"V?'/_ $&__)2#_P"(H_X6SXY_Z#?_ )*0?_$4 ?3U%?,/_"V?'/\
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MVG_%;4@LVJ^((],A)'RM:0/(1] F!^)S[5Z9:PR6]LD<MU+<NHYEE"AF^H4
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M<(OU8\"O>M%^$GAG2BLEQ#)J$PYW7!^7/'\(X[=\]:[B*&*",1PQI&@Z*B@
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MW<JH'YFM:V^$GB&89EDLX/9Y23_XZ#0!Y]LHV5ZS:_!IMP-WK"X[B*'^I/\
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MEP+"13ZBX?\ J:ZZB@#BC\+/#1;(CN@/03?_ %JB_P"%3^'?^>M]_P!_5_\
MB:[JB@#A?^%3>'?^>M__ -_5_P#B:/\ A4WAW_GK?_\ ?U?_ (FNZHH X7_A
M4WAW_GK?_P#?U?\ XFGI\*O#:#YA=O\ [TP_H!7;T4 <?'\,?"Z?>LY7X_BG
M?^A%6(OAYX6BQC2PW.?GE=OYFNHHH PE\&>&T&!H]J1[IG^=78M"TB 8BTRS
M7G/$"]?RK0HH 9'%'$"(T5 3DA1BGT44 %%%% !1110 4444 %%%% !1110
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MZU9J"TNEO(/-12!G'-3U]1A?9*C!4?ALK>APU.;F?-N%%%%;D!1110 4444
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M&>*JM2H+%2PU#"QDTD][;BC*7LU.51HU[6WCMH?+B)*YSR:FJ"TMA:0")6+
M$GFIZ^AP\>6E&/+RZ;+IY''-WDW>X4445L2%%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
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HB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@#_V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>image_002.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_002.jpg
M_]C_X  02D9)1@ ! 0   0 !  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" "A V8# 2(  A$! Q$!_\0
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MFH O07PGFV",@>N:N57M[..#D99_4U8H **** "BBB@ HHHH **** "BBB@
MHHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "B
MBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ***
M* "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
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M !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
M%%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4
M444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !11
M10 4444 %%%% %>XM1<M'N;"KG('>GJD-LG 5%[FH[RZ-LJ[5RS9QGM69^_N
MY.[']!0!;GU(<K"/^!&JJQSW3Y^9O]H]*NP::BX:4[CZ#I4\MS#;K@D9[*M
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M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
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M2F>ZF4G<^#^ JU!IO1ICG_9%7U147:J@#T% #ATHHHH **** "BBB@ HHHH
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M%&1ZT %%%% !1110 449 [U',91&?)V;^V_.* )**:F[8-^W=CG;TIP(/0T
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M: +-07:JUNP> S#^X.]).V)XA]J$63]P@?/^=.N6VP$^>(/]LXX_.@!Z >2
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MY/S#]*6X$I0>5'&YSR)#Q4;_ &;[<FXMY^..N,?RI;W[-Y2_:2P7=QC/7\*
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MGI&>*1!+]H8M%$$[,#\Q^O%)9_9_*/V<DKGG.>OXTV/[-]M?86\['S=<?X4
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M_P (7J/K0YF%P@5XA'W5OO'Z4](8HW9DC16;J0H!-#0Q-()&C0NO1BHR/QH
M;<&41_NGC5L]9.E2+G8,D$XZCI39(HYEVRQJZ^C#(IP  P  !VH B@,I+>:\
M3<\;.WUHS+]IQOC\K'W?XLT^.&*+/EQHF>NU0,T>3'YOF^6GF8QOVC/YT ,G
M,HV^4\:\\[^X]J?*7$1V,JMV+=*)(HY<>9&CX.1N&<4KHLBE74,IZ@C(H 2(
MN8AO96;N5Z4R RDMYKQ-SQL[?6I%1$4*BA5'0 8%)'#%%GRXT3/)VJ!F@!C&
M;[0H#Q"/'*G[U%P90@\IXU.>3)TIYAB,@D,:&0=&*C(_&B2*.8 2QHX'(#*#
M0 K%O+."H;'4]*; 9#$#*T;-ZITIY52NTJ"N,8(XI(XTB39&BHOHHP* (XC*
M9'WO&5_A"]1]:&,OVA0KQB/'*G[Q^E/6*-&9DC16;J0,$T&*-I!(8T+CHQ7D
M?C0 2EQ$VQE5NQ;I1$7,2^8RLW<ITI719%*NH93U##(-"(L:A44*HZ!1@"@"
M.,RF=PSQ%.P4?,/K1*9A,@1XE3^(-U/TIZPQ)(76- YZL%&30\,4CJ[QHS+T
M8J"10 DYD$1\ID5O5^E*-WE<E=V.O;-+)''*FR1%=?1AD4NQ0FP*-N,8QQ0
MR R&/]XR,WJG2FH93.X9XRG\(7[P^M21QI$NV-%1?11@4BQ1K(SK&@=NK!1D
MT ,F,PE3RWB5?X@_4_2G3F01$Q,BMV+]*5X8I&5GC1F7[I902/I2R1I*A61%
M=3V89% ")O\ *&XJ7QR1TIEN92K>:\;'/'EU*$54"*H"@8P!Q38XHX@1'&B
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M8J"13F574JRAE/4$9% #8BYC&]E9NY7I3(3*2_F/&PSQL[?6I$18U"HH51T
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A%% !1110 4444 %%%% !1110 4444 %%%% !1110!__9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
