Wendy’s/Arby’s franchise holders said yesterday they are shocked and unprepared to hear Trian Management, the largest shareholder is peddling their burgers and beef chain restaurants.
Nelson Peltz, the chairman, said he was in talks with an investor he refused to name to sell the struggling restaurant businesses.
The head of the Wendy’s Old Fashioned Franchise Association, told Nation’s Restaurant News that the group had no idea Peltz, who purchased Wendy’s in 2008, was looking at an offer to sell the company.
“We’ve been very supportive of Wendy’s new management. They’ve done some very positive, strategic things that have gotten us beyond some of the distractions of two years ago.”
Roger Webb, chairman said.
Now, Webb said,
“We’ve got some more distractions cropping up. We see their sales trends like everyone else does, and the public information out there doesn’t look too promising, does it?”
Pam Farber, daughter of Dave Thomas and director of the franchisee association said the founder of Wendy’s would be very disappointed with the sale.
“I just honestly … there are no words to describe [this]. He loved, loved this business. One thing about my dad — it wasn’t about the money. It was about his passion and love for the business. Yeah, he had to feed his family, but he cared so much for his franchisees. This whole franchisee system is part of the Thomas family.”