Profit In Hand, Wendy’s Parts Way With Inspire Brands
The Dublin, Ohio-based chain had owned 12.3% of Inspire, a legacy of the ownership interest Wendy’s kept in Arby’s when it sold the chain to private equity firm Roark Capital in 2011. At the time, Wendy’s interest in Arby’s was worth $30 million. Wendy’s said it plans to use the funds to invest back in Wendy’s and buy back shares.
Wendy’s opted not to participate in Arby’s purchase of Buffalo Wild Wings this year, which created Atlanta-based Inspire Brands.