Foodservice Equipment Reports

Wendy's Changes Name, Completes Arby’s Sale

Independence Day brought completion of Wendy's/Arby's Group’s sale of Arby's Restaurant Group to affiliates of Roark Capital Group and a new moniker for the burger chain: The Wendy’s Company.

Under the $430 million deal, effective July 4, Wendy’s retains an 18.5% ownership of Arby’s. The majority sale to Roark gives the private equity firm ownership of 3,600 Arby’s stores.

Wendy's CEO Roland Smith said the transaction allows the company to devote full attention to and resources on Wendy's. “These opportunities,” he said, “include revitalization of our core menu, expanding breakfast, modernizing our facilities, building new restaurants in the United States and pursuing global expansion.”

The Wendy's system includes more than 6,500 restaurants in the U.S. and 25 other countries and U.S. territories worldwide.

The original Wendy’s cameo has been incorporated into the new company logo, and the phrase “worldwide” has been added to its tagline to emphasize Wendy's global aspirations, Smith added.

Such expansion is moving ahead in Russia, where Wendy’s opened its first two units in June. Its Russian partner, Wenrus Restaurant Group Ltd., plans to open 192 units within nine years. The first 50 restaurants will be opened by 2015. Wenrus may open 50-60 outlets in Ukraine and Kazakhstan in 2012 as well. Wendy's currently operates about 300 units overseas, but says it could potentially expand by 8,000 units internationally—with the focus on Russia, Brazil and China.

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