Udenna Corp. acquires Wendy’s Philippines
Udenna Corp., through food group subsidiary Eight-8-Ate Holdings Inc., on Tuesday said it is now the master franchise holder of Wendy’s in the Philippines, as it fully acquired the Philippine operations of the brand.
Udenna has fully acquired 51 Wendy’s restaurants in the country, adding to its portfolio of food and restaurant businesses such as Philippine FamilyMart and Conti’s Bakeshop and Restaurant.
“Food is a basic need and Filipinos love to eat. 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,” said Dennis Uy, Udenna chairman and CEO.
Eight-8-Ate plans to open more Wendy’s restaurants in key cities and provinces as part of its expansion plan.
“The Philippine food service industry is growing at a phenomenal rate,” said Joey Garcia, president and CEO at Eight-8-Ate.
“The booming population, strong economic performance, rising incomes, increasing demand for convenience, and cuisine curiosity will continue to drive this growth for years to come. Eight-8-Ate wants to take a sizable bite of the opportunity,” he added.
Wendy’s said it will continue to expand in partnership with Udenna and its Eight-8-Ate business.
"As we embark on our next 50 years, we are focused on accelerating growth across the globe and we are excited to bring Wendy’s to even more valued customers in the Philippines through our partnership with UDENNA and Eight-8-Ate," said Abigail Pringle, international president and chief development officer at Wendy's said.
Udenna’s businesses include oil, gas, and retail (Phoenix Petroleum); shipping and logistics (Chelsea Logistics); gaming ang hospitality (PH Resorts Group); property development (Udenna Land); education (Grouppo Enderun). —Jon Viktor Cabuenas/VDS, GMA News