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Wendy's to Spend $275M for Baja Fresh Chain

NEW YORK CITY-The hamburger hawker goes the guacamole route with an agreement to acquire Fresh Enterprises, owner of the Baja Fresh Mexican Grill chain. Wendy's expects to have up to 700 Baja locations open within five years.

By Glen Thompson | Updated on May 31, 2002

NEW YORK CITY-Wendy’s International Inc. has signed an agreement to purchase Fresh Enterprises Inc. owner of the Baja Fresh Mexican Grill restaurant chain. Wendy’s will pay $275 million in cash for 100% of Fresh Enterprises’ stock.

Thousand Oaks, CA-based Baja Fresh currently owns, operates and franchises 169 “fast-casual” restaurants, a trend that combines the speed and moderate prices of traditional fast food with fresh ingredients and enough fine-dining niceties to make patrons feel pampered.

Currently operating in 16 states scattered throughout the Southwest, Midwest and Southeast, Wendy’s officials say the Baja Fresh chain is poised to break out on a national level. Management expects to have 210 locations open in 18 states by the end of 2002 and Wendy’s expects to triple that figure within five years.

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