That’s Roark/Arby’s to you
Wendy’s/Arby’s Group Inc. said it will sell all but an 18.5 percent stake of its Arby’s chain to private equity firm Roark Capital Group in a deal valued at $430 million. Roark will pay $130 million in cash and assume $190 million worth of the company’s debt. Wendy’s/Arby’s values its remaining ownership position at $30 million and will also garner an expected tax benefit worth $80 million. Wendy’s/Arby’s had previously announced that it was putting the 3,600-outlet Arby’s business on the block and said it had several possible suitors. The two chains merged less than three years ago.
Trending News
