Wendy's Completes Arby's Sale, Changes Name
The Associated Press
Wendy's/Arby's Group Inc. completed the sale of Arby's Restaurant Group Inc. to private equity firm Roark Capital Group on last Wednesday and dropped the roast beef sandwich chain from its name.
Wendy's will now focus solely on its burger chain and do business as The Wendy's Company. It will continue to trade under the ticker WEN on the New York Stock Exchange.
Arby's, meanwhile, will explore its own identity under private ownership.
Wendy's and Arby's were combined in 2008, but the combined company struggled since its formation, losing money seven of its 10 quarters.
Wendy's/Arby's announced in January that it was looking for a buyer for the roast beef chain. Roark Capital Group, based in Atlanta, agreed in June to buy a majority stake in Arby's for $130 million and assume $190 million worth of Arby's debt.
Associated Press text, photo and/or graphic material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. Neither these AP Materials nor any portion thereof may be stored in a computer except for personal and non-commercial use. The AP will not be held liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing.
Latest Stories
- Cook County Assessor’s Office Hosts Inaugural Neighborhood Housing Forum
- Celebrity Chef Carla Hall and The Fresh Market Team Up to Support Alzheimer’s Association During Month of June
- ONYX MEDICAL WELLNESS CELEBRATES GRAND OPENING & RIBBON CUTTING IN CHICAGO’S SOUTH SHORE DURING PRIDE MONTH
- 5th Annual Cook County Juneteenth Illinois Celebration to Be Held June 14th
- “NO MORE CUTS TO KIDS’ FUTURES”
Latest Podcast
STARR Community Services International, Inc.
