Wendy's was established in 1969 in Ohio and became the largest fastfood chain operator in the world that operates in more than 6,000 locations globally. However, the company plans to reduce its total system of restaurant ownership by 15% from its previous 22%. This will be done by selling 425 restaurants that the company owns to numerous franchise operators. Wendy's aims to concentrate on its operation geographically resulted to the planned restaurants sale.
Wendy's is aiming to complete the sale of the said restaurant units by the end of the second quarter of 2014. According to the company's president and CEO Emil Brolick, the reduction of company-operated units is an important move towards transforming the Wendy's brand. He added that well-capitalized and successful franchisees will be the top prioritized clients for the sale of the restaurant units. The net proceeds of the sale will help support the plan to redevelop and create innovations for new Wendy's restaurants.
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