(Ian Ritter is national online editor for GlobeSt.com/RETAIL.)
DUBLIN, OH-Wendy's is selling its 400-unit Mexican-food chain Baja Fresh to a group of investors led by restaurant-franchise operator David Kim for about $31 million. The West Coast-based buyer also has interests in such chains as Cinnabon, Denny's, KaBloom and Sweet Factory.
Wendy's executives say they are selling Baja Fresh to concentrate on the company's core quick-service chain. Last month it completed the spinoff of Tim Horton's, a quick-service concept that has a large Canadian presence.
Wendy's management says the deal is likely to close some time in the fourth quarter. There are about 300 company-owned Baja Fresh units, and the rest are run as franchises.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
