Dennis Uy acquires Wendy’s Phl

Davao-based businessman Dennis Uy has taken a bigger bite of the country’s restaurant industry, acquiring Wendy’s Philippines.

Udenna, through its food subsidiary Eight-8-Ate Holdings Inc., has signed an agreement to become the master franchisee of Wendy’s in the country, a deal that marks Udenna’s latest venture in the highly competitive food and restaurant business.

In April, The STAR broke the story that Uy was looking to acquire Wendy’s in the Philippines and become the master franchisee of the American fast-food burger giant in the country.

The acquisition of Wendy’s adds to Udenna’s portfolio of food and restaurant businesses following its acquisition of Enderun Colleges, FamilyMart and Conti’s Bakeshop and Restaurant.

“We officially welcome Wendy’s to the Udenna family. We are grateful to be part of this heritage,” Uy said yesterday in a ceremonial signing of the agreement held at the Udenna Tower in Taguig.

Forbes listed billionaire Lucio Co, the man behind Puregold Price Club, was the majority owner of Wendy’s Philippines after acquiring a significant stake from Pardo family, the owners of the Philippine franchise of the American hamburger chain, in 2015.

The Wendy’s Company president for international and chief development officer Abigail Pringle said Wendy’s Philippines needed a new leadership and new strategies and that they are happy to partner with Uy.

According to Pringle, there is no better time for Wendy’s in the Philippines to enter into this new partnership.

“Wendy’s is distinguished by 50 years of delivering exceptional restaurant experiences. Including a quick meal made fresh, high quality ingredients served by friendly people in a comfortable atmosphere and at a fair price. As we embark on our next 50 years, we are focused on accelerating growth across the globe,” she said.

Joey Garcia, president and CEO of Eight-8Ate said the company would expand Wendy’s network in the Philippines as it has already secured 12 new sites, of which two would be opened this year and the rest, next year. This would add to the existing network of 52 Wendy’s stores at present. There will also be new product offerings. “The Philippine food service industry is growing at a phenomenal rate... Eight-8-Ate wants to take a sizeable bite of the opportunity,” Garcia said.

Wendy’s has been in the Philippines for 36 years now and remains a valuable presence in the fast-food business. It is well known for its famous signature burger, Bacon Mushroom Melt.