Restaurant chain Wendy's sells 30 US restaurants to franchisee BB St Louis
The Wendy's Company, an American fast food company, has offloaded 30 St Louis restaurants in Missour…The Wendy's Company, an American fast food company, has offloaded 30 St Louis restaurants in Missouri to BB St. Louis, a joint venture between Wendy's franchisee Junior Bridgeman and basket ball player Chauncey Billups.
The proposed stores comprise 29 existing restaurants and one under-construction restaurant.
With this agreement, Bridgeman, a former basket ball player, will become the second largest franchisee of Wendy's with a portfolio of 196 restaurants.
Wendy's president and CEO Emil Brolick said that the move is a part of company's brand revival plan that includes reimaging and developing new restaurants.
"We are expanding our relationship with successful, well-capitalized franchisees with strong operating credentials and a commitment to our Image Activation reimaging program," added Brolick.
The restaurant chain is keen to sell a total of nearly 425 company-operated restaurants to franchise operators by the end of second quarter of 2014.
Bridgeman noted, "We have a tremendous opportunity in the St. Louis market, and our goal is to build upon the positive momentum and growth that the Wendy's brand is currently experiencing."
