Wendy's completes Baja Fresh sale

Wendy's International Inc. announced the completion of the Baja Fresh Mexican Grill sale for approximately $31 million.

Four years ago it paid $275 million for the chain. Those within the Wendy's system knew something was going down sooner or later, said Traci Mills, marketing director for Cedar Enterprises, which owns and operates 134 Wendy's and one Baja Fresh. (Read also Post Baja Fresh: State of the fresh-Mex segment)

The purchaser of Baja Fresh is a West Coast restaurant operating company owned by a consortium of investment groups led by David Kim. Kim and his team own or operate several restaurant concepts, including Sweet Factory, Cinnabon and Denny's.