Wendy's Mulls Acquisitions to Bolster Sales
Dublin, Ohio--Wendy's International Inc. is looking for acquisitions or investments of less than $50 million to help sustain its long-term sales and profit goals. Earlier this year, Wendy's paid $275 million to buy the Baja Fresh Mexican Grill chain and said it would consider buying another fast-casual concept.
According to the company, though, Wendy's, which owns Tim Hortons and has a 45 percent stake in Café Express, most likely wouldn't make another large acquisition in the next 18 months, partly because it wants to retain its investment grade debt ratings. The company has held talks on investments or acquisitions with about six companies in the last two years. -Nation's Restaurant News