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Dec. 27, 2013 /PRNewswire/ -- The Wendy's Company (NASDAQ: WEN) has sold 30 Austin and 19
Sacramento area restaurants, in separate transactions. With the completion of the transactions today, the Company has now either sold or announced sales agreements for a total of 282 restaurants in 2013 as part of its System Optimization initiative.
Austin restaurants have been sold to HAZA Foods, LLC of
Austin, Texas. Ali Dhanani is president and chief executive officer of the organization, which also operates 31 Wendy's® restaurants in the greater
Houston market and three in
Sacramento area restaurants have been sold to Desmond Foods, L.P. -- a Wendy's franchisee since 1973, led by President and Chief Financial Officer
Craig Horn. Desmond also operates 17 Wendy's restaurants in the
Fresno market along with seven in the
San Francisco area.
Wendy's announced plans in July to geographically concentrate its restaurant ownership through the sale of about 425 Company-operated restaurants in 13 U.S. markets, primarily in the West. Restaurants are being sold to qualified operators on a market-by-market basis, with the completion of this process targeted by second quarter 2014.
As part of this initiative, Wendy's previously announced the sale of or an agreement to sell the following markets:
Salt Lake City,
Seattle and St. Louis.
Included in these agreements are specific plans to reimage certain restaurants in Wendy's contemporary Image Activation restaurant design. They also include development plans for new restaurants.