Wendy’s Sells Stake in Arby’s Owner for $450 Million
By Sara Shaw • August 17, 2018
Wendy’s ended its decade-old ties with Arby’s as it sold its 12.3 percent stake in the sandwich chain’s parent for $450 million on Thursday, giving it a boost as it battles larger rivals McDonald’s and Burger King. An Arby’s restaurant sign stands near a Wendy’s restaurant in Lakewood, Colorado
Matthew Staver | Bloomberg | Getty Images
An Arby’s restaurant sign stands near a Wendy’s restaurant in Lakewood, Colorado
Hamburger company Wendy’s ended its decade-old ties with Arby’s as it sold its 12.3 percent stake in the sandwich chain’s parent for $450 million on Thursday, giving it a boost as it battles larger rivals McDonald’s and Burger King. Wendy’s will sell its stake to Inspire Brands, owned by Roark Capital, at a price 38 percent higher than its most recent valuation of the investment. Wendy’s shares rose 2.8 percent in early trading, hitting their highest level in over a decade.