The Wendy's Company has completed its System Optimization initiative, launched in July 2013, with the sale of 104 restaurants in the Phoenix, Los Angeles/Palm Springs, Hawaii and Albuquerque markets. The buyers are franchisees, who are committed to restaurant growth and re-imaging along with the customer service incentive. In total, Wendy's has sold 418 company-operated restaurants in 13 markets, primarily in the West, as part of a strategy to geographically align its restaurant ownership for efficiencies, while generating a more predictable revenue stream. The company has received total proceeds from System Optimization of approximately $235-million, including $138-million in 2013. The latest transactions include the sale of 40 Phoenix area restaurants to Arizona Restaurant Company LLC, led by veteran franchisee Richard Holland and John Peters, who previously served as Wendy's Senior Vice President of North America Operations. Along with the Phoenix market, Holland operates 73 Wendy's restaurants elsewhere in Arizona and seven other states. In addition, 32 Los Angeles/Palm Springs area restaurants were sold to Cotti Foods California Inc. and seven restaurants in Hawaii were sold to Cotti Foods Hawaii Inc. Both entities are headed by President and CEO Peter Capriotti II, based in Rancho Santa Margarita in California. In the Albuquerque area, 25 restaurants were sold to JAAB Restaurant Holdings LLC, led by partners Andres Garcia, Jhonny Mercado, Murshed ‘Ben’ Mansoor and Angelo Freites. Garcia, Mercado and Freites also operate JAA Restaurant Holdings LLC with 36 Wendy's restaurants in Florida, along with restaurants in Panama. In total, the purchase agreements for the 13 markets include commitments to re-image about 180 restaurants as well as development plans for about 100 new restaurants. With the completion of the System Optimization initiative, the company will now operate about 1000 restaurants in the United States and Canada, comprising approximately 15 percent of Wendy's restaurant system. The Wendy's system includes more than 6500 franchise and company-operated restaurants in the United States and 28 countries and U.S. territories worldwide.
Wendy’s Company – One Dave Thomas Blvd., Dublin, Ohio 43017 (888/624-8140 www.wendys.com consumer.relations@wendys.com) One Dave Thomas Blvd., Dublin, OH 43017
Arizona Restaurant Company LLC - NA
Cotti Foods California Inc. and Cotti Foods Hawaii Inc - 9889 Santa Margarita Pkwy, Rancho Santa Margarita, California 92688 (949/858-9191)
JAAB Restaurant Holdings LLC and JAA Restaurant Holdings LLC - 6401 Congress Ave., Boca Raton, Florida 33487 (561/997-6002)