The Atlanta-based Wendy’s/Arby’s Group announced Monday it is selling its Arby’s section to an Atlanta-based private equity firm, Roark Capital Group.
Arby’s Restaurant Group, Inc. is one of the largest fast food sandwich chains in the country.
The deal is valued at around $430 million, with the Wendy’s/Arby’s Group set to receive $130 million cash at closing.
The Wendy’s/Arby’s Group says that it plans to focus efforts on growth opportunities for the parent company, Wendy’s. These plans include modernizing facilities, exploring more breakfast options, and global expansion.
The Wendy’s/Arby’s Group will also retain an 18.5% common stock interest in the Arby’s franchise. This stock interest is worth $30 million.