The Wendy’s Company (“Wendy’s”) is one of the largest quick-service hamburger companies in the world.
Trian originally invested in Wendy’s International, Inc., the predecessor company of Wendy’s, in late 2005, as Trian believed there were opportunities to improve value in the brand as a standalone hamburger business by divesting ancillary brands, and returning capital to shareholders. In September 2008, Trian helped to orchestrate a merger between Triarc Companies, Inc. (which owned the Arby’s® restaurant company) and Wendy’s International.
In 2011, following the merger of Wendy’s International and Triarc (which became known as the Wendy’s/Arby’s Group, Inc. and thereafter Wendy’s), Trian helped devise several operational initiatives focused on improving and growing the core Wendy’s brand. After selling control of the Arby’s brand in mid-2011, Wendy’s launched Image Activation, a remodel program, in 2012 with the goal of substantially reimaging the system’s restaurants by 2020. In 2013, Wendy’s embarked on a refranchising strategy (called System Optimization) to significantly reduce the percentage of company-owned stores by the end of 2016. Additionally, Wendy’s sold its bakery operations in mid-2015. In 2017, Wendy’s announced significant overhead reductions for completion by 2020.
Nelson Peltz, Peter May and Matt Peltz serve on the board of Wendy’s.