Atlanta / GA. (wag) Wendy´s / Arby´s Group Inc., the third-largest quick-service restaurant company in the United States, announced it is exploring strategic alternatives for Arby´s Restaurant Group Inc., including a sale of the brand. UBS Investment Bank is assisting in the process.
Arby´s is the second-largest quick-service sandwich chain in the U.S. with nearly 3’700 restaurants. Arby´s restaurants specialize in slow roasted and freshly sliced roast beef sandwiches as well as Market Fresh deli-style sandwiches, toasted subs and salads, all with the convenience of a drive-through.
Nelson Peltz, Chairman of Wendy´s / Arby´s Group: «We believe the way to maximize shareholder value is to focus all of our management and financial resources on continuing to build the Wendy´s brand. Arby´s is a good business, and we are making progress improving its performance, as evidenced by the 3,1 percent increase in company-operated same-store sales in the fourth quarter of 2010. However, despite Arby´s positive momentum, the reality is that the Wendy´s brand, given its relative size and scope, is the key driver of shareholder return, and we believe we should focus on the execution of the compelling growth opportunities at Wendy´s».
Roland Smith, President and Chief Executive Officer of Wendy´s / Arby´s Group: «Wendy´s currently has more than 6’500 restaurants in more than 20 countries and is one of the most attractive growth stories in the quick-service restaurant industry. A pure-play Wendy´s will enable us to focus all of our energies on growing the Wendy´s brand via new store growth both in North America and international markets, and with accelerated same-store sales through the introduction of new dayparts and core menu innovation».
