Franchise news

18.06.2011

Wendy's/Arby's Group sells Arby's to Roark Capital Group

Wendy's/Arby's Group, Inc. has announced a definitive agreement for the sale of Arby's Restaurant Group, Inc. to a buyer formed by Roark Capital Group. According to the information provided, Wendy's/Arby's Group will retain an 18.5% ownership interest in the Arby's® business and the aggregate transaction value is estimated to be $430 million.

Roland Smith, President and Chief Executive Officer of Wendy's/Arby's Group, said, "This transaction provides substantial value to our stockholders, as it is expected to be accretive to earnings, deleverage the balance sheet and allow us to devote our full attention and resources on the exciting growth opportunities we have at Wendy's®. These opportunities include revitalization of our core menu, expanding breakfast, modernizing our facilities, building new restaurants in the United States and pursuing global expansion.”

Neal Aronson, Managing Partner of Roark Capital Group, said, "This is an exciting day for Roark as well as Arby's. Arby's has more than 47 years of offering unique, high quality and better-tasting alternatives to traditional fast food. We look forward to working with Arby's President Hala Moddelmog and the dedicated employees and franchisees to help this great brand achieve its full potential."

Wendy's/Arby's Group, Inc. is, it says, the third largest quick-service restaurant company in the United States 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 26 other countries and U.S. territories worldwide. (kbp)


Arby's (USA)

quick-service restaurants serving roast beef, chicken and specialty sandwiches
» to the franchisor


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18.06.2011 » 

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