News
Wendy’s Continues Unloading Its Restaurants
JAE Restaurant Group just added 97 Wendy’s restaurants to its collection as Wendy’s continues its three-year sell-off aimed at transitioning ownership of locations from corporate to franchise.
The restaurants that traded hands are throughout Palm Beach, Broward and Miami-Dade counties in South Florida and terms of the deal were not disclosed, CoStar reports. JAE now owns 177 Wendy’s eateries throughout Florida, Texas and New Mexico.
The sell-off is part of Wendy’s brand transformation strategy to upgrade the street appearance and interiors of its restaurants with features including fireplaces and WiFi. The company expects to reduce company-owned restaurants to 5% of total locations by the end of 2016. [CoStar]
