Wendys acquired by a Singaporean company
Chain to transition to new owners.
Wendys announced today its sale to Singapore-based Global Food Retail Group (GFRG). According to the brand, the deal will see the company extend its network of stores into Asia.
The chain currently has over 200 stores across Australia and more than 30 stores in New Zealand.
“It is a significant day for our Wendys teams across Australia and New Zealand, with confirmation the business has new owners, and big plans to grow our brand internationally,” said Wendys chief executive Rob McKay.
“The new owners consider Wendys to be an iconic brand, with a strong network of stores throughout Australia and New Zealand. It is exciting to hear what plans they have for Wendys, and to be part of a new foray into the fast-growing Asian marketplace.”
McKay assured that it will be business as usual for the franchisees, employees and suppliers. The deal will not be affecting the day to day running of Wendys stores in Australia and New Zealand.
“We are very excited about this new chapter. We have seen some tough economic times in the market in our sector so this is a real opportunity to take a fresh look at what we can do next to diversify and grow. The team remains but the spirit will be uplifted to do more and create a robust and healthy commercial environment. And doing what we do best, putting smiles on every customer that comes to us,” he added.
Stanley Tan, chief executive of GFRG, noted, “we are very enthusiastic about this investment and look forward to becoming a part of this team - not many businesses are about making people happy, and we are very happy to be in this happy business! We intend to enjoy ourselves while taking part in this. At GFRG, we have been watching for investments in brands and franchise systems that we can focus on making global. We will continue to study complementary opportunities.”
