“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,” said Roland Smith, president and chief executive officer. “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 accelerate same-store sales through the introduction of new dayparts and core menu innovation.”
Arby’s is the second-largest quick-service sandwich chain in the United States with nearly 3,700 restaurants. But a higher price point compared with other similar restaurants has impacted Arby’s in recent years.
“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,” said Nelson Peltz, chairman of Wendy’s/Arby’s group. “Arby’s is a good business, and we are making progress improving its performance, as evidence by the 2.1% increase in company-operated same-store sales in the fourth quarter of 2010. However, despite Arby’s positive momentum, the reality is 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.”
