Dec. 27, 2013, 4:23 PM
- Wendy's (WEN -1.3%) sells 30 Austin restaurants to HAZA Foods and 19 Sacramento locations to Desmond Foods, both franchisees of the restaurateur. With the divestments, Wendy's has sold 282 restaurants in 2013 as part of its System Optimization initiative.
- The company plans to sell a total of ~425 company-operated restaurants by Q2, with the sales aimed at driving higher operating margins and FCF.
Jun. 13, 2011, 7:21 AM
Wendy's/Arby's (WEN) is selling Arby's to Roark Capital Group, but will retain an 18.5% ownership interest. Wendy's/Arby's estimates the deal is worth $430M, including a $130M cash payment at closing, Roark's assumption of $190M of debt, an income tax benefit of $80M, and the 18.5% stake worth ~$30M. (PR)| Jun. 13, 2011, 7:21 AM