Posted on 06/13/2011 11:24:54 AM PDT by Red Badger
Atlanta-based Wendy's/Arby's Group agreed to sell most of its Arby's division to a buyer formed by Roark Capital Group, an Atlanta-based private equity firm with $1.5 billion of equity capital under management. Roark's portfolio includes Moe's Southwest Grill, Schlotzsky's, Wingstop and other restaurant companies.
The deal, valued at $430 million, will break up a fast-food company that was formed less than three years ago and arguably never reached its full potential. About 40 jobs at the Wendy's/Arby's headquarters will be eliminated, but more than 300 people will either join Roark or stay with the Wendy's brand in Atlanta. The headquarters of the Wendy's brand will remain in Ohio.
Wendy's/Arby's had previously said it planned to explore alternatives, including a sale of Arby's, to allow it to focus its resources on the larger Wendy's brand. The parent company wants to update the core menu at Wendy's, modernize restaurants, add breakfast items, build new Wendy's restaurants in the U.S. and expand globally.
Meanwhile, Arby's has posted six months of sales growth at established stores in the United States. Executives say that is an indication that the brand's turnaround is underway, after it was caught with an overpriced menu in a budget-killing recession.
In an interview with The Atlanta Journal-Constitution, Roland Smith, chief executive of Wendy's/Arby's Group, said the company had proved doubters wrong by finding a willing buyer.
(Excerpt) Read more at ajc.com ...
That's what I thought, so I've never hit the same one twice, and it's been in three states. Just something between me and what they serve, and what they serve always wins. Too bad, I like the taste, but haven't been back in about four years.
That's it, maybe I need to eat much more often in order to build up immunity.
I have managed to duplicate that and use it on coleslaw.
Well, back to the lab — Er.. Kitchen..
Ask for a handful of Horsey Sauce packets.......................
Why duplicate it? Just go in the door and grab a handful of Horsey Sauce packets.............
Sounds like the AOL/Time-Warner deal............
Arby’s has one item worth ordering: the roast chicken club.
Yep. It made me sick every time too, but I learned my lesson a long time ago.
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