News

Virginia franchisee buys 30 Wendy's outlets around Norfolk

February 20, 2017

Delight Restaurant Group has purchased 30 Virginia Beach/Norfolk-area Wendy's locations, which collectively produce about $50 million annually in gross revenues, according to a news release.

The December 2016 acquisition also includes plans to build several units in the area and remodel a number of those acquired using the brand's image activation format. The acquisition took place with a Wendy's subsidiary and is part of the brand's efforts to reduce company-owned properties to about 5 percent of the total system, according to the release.

Delight Restaurant Group, founded by managing partners, Andrew and Richard Krumholz last year, plans to grow through additional Wendy's acquisitions, as well as building new units.