More Than 12 Parties Are Interested in Wendy's: WSJ
More than a dozen parties have expressed interest in Wendy's International sale process, the Wall Street Journal reported on Monday, citing a person familiar with the the situation.
On its Web site, the Journal reported the source said Wendy's board was still considering a recapitalization or other change in strategy in addition to an outright sale of the fast- food company.
More than a dozen parties have signed confidentiality agreements and voiced interest in the sale, the source said, including some private equity firms that could collaborate on a bid.
Wendy's officials were not immediately available for comment.
Triarc Companies , parent of the Arby's fast- food chain, is the
only company that has publicly expressed interest in making a bid for Wendy's. Triarc is controlled by billionaire investor Nelson Peltz, who has pressed for several changes at Wendy's over the last two years, including the sale of secondary brands, including Tim Hortons and Baja Fresh.
Also on Monday, the Journal reported that a group of Wendy's franchisees sent a letter to the company's board of directors expressing concern about "the slow decline" of the its brand over the last few years.
In the letter, which was posted on the Journal's Web site, the group representing more than 1,100 Wendy's restaurants said the chain had reverted "to an autocratic style of decision making which disregards or even misleads the franchisees while pursuing strategies which risk long term brand damage."
They listed the downsizing of products and portion sizes as examples.