Chairman Nelson Peltz advised the SEC that he had received an inquiry from an unidentified party expressing interest in such an acquisition, and he indicated that he is considering the matter as well as alternatives.
Publicly traded Wendy’s/Arby’s principal shareholder is Peltz’s Trian Fund Management LP, which owns about 23.5 per cent. The company’s present market value is about US$2 billion. In his filing, Peltz indicated that he “expects to contact and discuss a possible transaction involving [Wendy’s/Arby’s] with potential debt and/or equity financing sources, other shareholders of the company and other interested third parties.” The Atlanta-based Wendy’s/Arby’s operates and franchises more than 10,000 restaurants worldwide under the Wendy’s Old Fashioned Hamburgers and Arby’s brands
Takeover activity in foodservice companies has soared this year. The most recent takeover came in April, with the acquisition of CKE Restaurants Inc. (Carl’s Jr. and Hardees chains) by Apollo Management LP. The Nation’s Restaurant News reports, “Other deals so far this year, pending or otherwise, have included transactions for Papa Murphy’s, Wingstop, Captain D’s, Del Taco and Rubio’s.