Operations

Report: Is Wendy's up for sale?

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May 25, 2022

Wendy's management fund wants to explore a sale or merger, according to a filing with the Securities and Exchange Commission.

Wendy's Chairman Nelson Peltz said Trian Partners wants to increase Wendy's value, according to a CNN report.

"The Board will carefully review any proposal submitted by Trian Partners," Wendy's said in a statement released Tuesday. "We remain focused on achieving our vision of becoming the world's most thriving and beloved restaurant brand."

The brand's stock jumped 11% Wednesday morning following the news.

Wendy's added a breakfast daypart in March 2020, and the company was beating its counterparts at breakfast, according to the CNN report. Still, the move hasn't been enough for the brand to see significant sales increases in the past few months.

"The breakfast environment was no doubt challenged across the industry … impacting our full year breakfast sales growth expectations," CEO Todd Penegor said in an analyst call earlier this month.

Like most restaurants, the brand has been hit hard by inflation and rising labor costs.