The Wendy’s franchise has today announced the beginning of an exciting new chapter in the company’s history, with the acquisition of the business by Wendy’s senior management and Navis Capital Partners, one of Asia’s leading private equity investors.
Original co-founder of the ice cream franchise, Geoff Davis, will retain his link with the business as a consultant, while well known figure in the food and beverage industry, Nicola Milne, will take over the role of CEO.
According to Ms Milne, whose world-class experience in the industry includes roles at McDonald’s and Bakers Delight: “The acquisition will provide the capital and strategic capabilities required for the business to commence an exciting phase of innovation and growth.”
“Wendy’s is currently regarded as the leading retail franchise opportunity in the Australian ice cream and treat market and this will further strengthen the opportunities for both our current and future franchisees. With a history of over 27 years in the industry, high quality products and strong franchisee support, the Wendy’s brand remains an established and well-respected part of the Australian culture and this acquisition will benefit all stakeholders.
“In addition, this acquisition has provided us with the opportunity for the people who run the business to become owners in the business. Given the commitment of our senior management team to this acquisition and the extensive experience Navis has in the food and beverage sector, this is an exciting time for Wendy’s and our network of franchisees,” Ms Milne said.
The fast food franchise is a vertically integrated retail business, with its own ice cream and treat manufacturing facility included in the deal.
Navis has a wealth of experience as an investor in the food and beverage industry through its existing ownership of companies such as Dunkin Donuts (Thailand), KFC (Hong Kong & Macau) and Dome Coffee (Worldwide).
“Navis will invest significantly in strengthening and expanding the Wendy’s franchise network with a focus on continued product and business innovation, along with accelerated geographic expansion,” Navis Director, Rodney Muse said.
22-Nov-2006