Atlanta / GA. (wag) Wendy´s / Arby´s Group Inc., the third-largest quick-service restaurant company in the United States, announced it is exploring strategic alternatives for Arby´s Restaurant Group Inc., including a sale of the brand. UBS Investment Bank is assisting in the process.
Arby´s is the second-largest quick-service sandwich chain in the U.S. with nearly 3’700 restaurants. Arby´s restaurants specialize in slow roasted and freshly sliced roast beef sandwiches as well as Market Fresh deli-style sandwiches, toasted subs and salads, all with the convenience of a drive-through.
Nelson Peltz, Chairman of Wendy´s / Arby´s Group: «We believe the way to maximize shareholder value is to focus all of our management and financial resources on continuing to build the Wendy´s brand. Arby´s is a good business, and we are making progress improving its performance, as evidenced by the 3,1 percent increase in company-operated same-store sales in the fourth quarter of 2010. However, despite Arby´s positive momentum, the reality is that the Wendy´s brand, given its relative size and scope, is the key driver of shareholder return, and we believe we should focus on the execution of the compelling growth opportunities at Wendy´s».
Roland Smith, President and Chief Executive Officer of Wendy´s / Arby´s Group: «Wendy´s currently has more than 6’500 restaurants in more than 20 countries and is one of the most attractive growth stories in the quick-service restaurant industry. A pure-play Wendy´s will enable us to focus all of our energies on growing the Wendy´s brand via new store growth both in North America and international markets, and with accelerated same-store sales through the introduction of new dayparts and core menu innovation».
About: Wendy´s / Arby´s Group Inc. is the third largest quick-service restaurant company in the U.S. and includes Wendy´s International Inc., the franchisor of the Wendy´s restaurant system, and Arby´s Restaurant Group Inc., the franchisor of the Arby´s restaurant system. The combined restaurant systems include more than 10’000 restaurants in the U.S. and 24 countries and U.S. territories worldwide.
OTHER TOPICS FROM THIS SECTION FOR YOU:
- Zabka Group: opens first »Froo« stores in Romania
- Goodfood: Reports Third Quarter 2024 Results
- Greggs: announces new National Distribution Centre
- Greencore: announces H1-2024 trading update
- Orkla ASA: reports strong profit improvement in Q2-2024
- Cloetta AB: announces Q2-2024 interim report
- Axfood AB: Reports Q2-2024 Financial Results
- Chef Robotics: Launches AI-Powered Food Robot
- Conagra Brands: Reports Fourth Quarter 2024 Results
- Limerston Capital sells Village Bakery to Groupe Menissez
- GrubMarket: Buys Major Foodservice Company in Texas
- Lantmännen acquires Entrack AB
- DPC Dash: Concludes H1-2024 with Sustained Expansion
- Norway: Orkla Food Ingredients acquires FDE
- Fondo Italiano d’Investimento co-invests in Casa della Piada
- Greggs: invests in a new frozen manufacturing and logistics site
- Bundeskartellamt imposes fine against «Fritz!» manufacturer AVM
- Yum China: Celebrates Opening of its 200th KCoffee Store
- Beijing intends to roll out 5’400 food production robots
- K-Citymarket: sees significant sales growth in Finland