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Restaurant Group Announces Acquisition of
Wendy’s Restaurants from the Wendy’s Company as Part of
Company’s Previously Announced System Optimization Initiative
VA – February 2017 / Newsmaker Alert / Delight
Restaurant Group announces the December 2016 acquisition of 30 Wendy’s®
restaurants in the Virginia Beach – Norfolk metropolitan area. As part
of the transaction, Delight Restaurant Group plans to build several new
restaurants in the area and remodel certain acquired restaurants in Wendy’s
new Image Activation format.
30 restaurants produce approximately $50 million in gross annual revenue
and have over 1,000 employees. The acquisition was completed with a subsidiary
of The Wendy’s Company and is part of Wendy’s previously-announced System
Optimization initiative to reduce company-operated restaurant ownership
to approximately five percent of the total system.
Restaurant Group is a new, growth-oriented franchisee in the Wendy’s system
founded by Managing Partners Andrew and Richard Krumholz in 2016. The company
plans to continue expanding through acquisitions of existing Wendy’s restaurants
and new unit development.
and Richard Krumholz, Managing Partners of Delight Restaurant Group: “We
are excited to join the Wendy’s family. We strongly believe in Wendy’s
vision for Image Activation and new restaurant development. Since inception,
the Wendy’s brand has stood for quality. We look forward to making quality
central to everything we do—from the food we serve to the organization
The Wendy’s Company
Wendy’s Company (NASDAQ: WEN) is the world’s third largest quick-service
hamburger company. The Wendy’s system includes approximately 6,500 franchise
and company-operated restaurants in the United States and 30 countries
and U.S. territories worldwide.
Delight Restaurant Group
in Norfolk, Virginia, Delight Restaurant
Group is a growth oriented franchisee of Wendy’s restaurants with a
total of 30 locations and approximately $50 million in gross annual revenue.
The company was founded in 2016 by Managing Partners Andrew and Richard