The Wendy's/Arby's Group
is selling most of its Arby's restaurant chain. 81.5% of the Arby's restaurant chain will be sold to a buyer formed by the Roark Capital Group
. The total transaction value is estimated to be $430 million. Wendy's/Arby's will retain a 18.5% stake in the company. Arby's has 3,600 restaurants worldwide.
Roland Smith, president and CEO of Wendy's/Arby's Group, says the deal will allow the company to devote its full attention and resources on Wendy's. Smith says, "These opportunities include revitalization of our core menu, expanding breakfast, modernizing our facilities, building new restaurants in the United States and pursuing global expansion."