Dennis Uy’s Udenna Acquires Wendy’s Philippines
Dennis Uy’s Udenna Corporation has acquired the master franchise of quick-service food chain Wendy’s in the Philippines.
The Davao-based entrepreneur made the acquisition through his wholly owned food subsidiary Eight-8-Ate Holdings Inc, according to The Philippine Star.
This is the latest addition to Uy’s growing portfolio of food-related businesses. Udenna already owns and runs hospitality school Enderun Colleges, the FamilyMart chain of convenience stores, and the Conti’s chain of casual restaurants.
“Food is a basic need and Filipinos love to eat,” GMA News Online quoted Uy as saying. “We want to be in industries where there is growth and we will continue to expand our footprint in the restaurant space by offering quality, affordable dining out options.”
Wendy’s has around 51 branches nationwide. The American chain, which serves typical fast-food fare such as burgers, french fries, chicken, salads and drinks, has been present in the country for over 35 years.
Wendy’s was formally majority owned by billionaire Lucio Co, the man behind the Puregold chain of supermarkets.
This week also happens to be Wendy's 50th anniversary celebration after it was founded in Columbus, Ohio in 1969.