Delight Restaurant Group Announces Acquisition Of 30 Wendy’s Restaurants From The Wendy’s Company As Part Of The Company’s Previously Announced System Optimization Initiative
Norfolk, VA (RestaurantNews.com) Delight Restaurant Group announced today the December 2016 acquisition of 30 Wendy’s® restaurants in the Virginia Beach – Norfolk metropolitan area. As part of the transaction, Delight Restaurant Group plans to build several new restaurants in the area and remodel certain acquired restaurants in Wendy’s new Image Activation format.
The 30 restaurants produce approximately $50 million in gross annual revenue and have over 1,000 employees. The acquisition was completed with a subsidiary of The Wendy’s Company and is part of Wendy’s previously-announced System Optimization initiative to reduce company-operated restaurant ownership to approximately five percent of the