updated - October 26, 2020 Monday EDT
The famous Australian-based dessert store, Wendys has been acquired by GFRG, also known as Global Food Retail Group in Singapore
Currently, the brand is known all over Australia and New Zealand. With this recent acquisition, Wendys will go further with its expansion and opens more branches in Asia.
According to one of the executive officials of GFRG, Rob McKay, the company is focused on global expansion to further its presence in the international market. GFRG is listed in Singapore's Global Yellow Pages Limited.
"The current owners believe that the company is a promising brand in this industry, with its massive following all over New Zealand and Australia, this will definitely be a hit in other countries once they have started their operation," McKay explained.
"We are looking forward on the plans of opening more Wendys stores and become part of this global expansion, especially in Asian scene."
In addition to that, McKay emphasized that the expansion will not hamper the daily store operations of other Wendys units, which is now over 200 branches. It will not even affect the staff who are currently working in their posts. "I just want to emphasize that everything will go as per normal for all the franchisees, staff and other business partners, regardless of the expansion."
The chief executive of Wendys believes that the new partnership that has been formed will bring promising results to the brand's business in totality. "It's been like we are in a rollercoaster ride due to the economic issues in this industry but with the current partnership, this marks new opportunity for the brand to cope with the tough times that it went through before. This will help Wendys to grow and strengthen its presence in global market."
There are more acquisition deals that are also going on right now. "With GFRG, we have always been looking for more investment opportunities in other brands and franchise categories wherein we can bring to international scene. We have been conducting researches for potential business opportunities and bring them to reality," Stanley Tan, the CEO of GFRG said.
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