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Wendy’s restaurants in New York and Long Island were acquired by Delight Restaurant Group. A total of 44 stores were purchased by the restaurant firm from The Wendy’s Company.
DRG’s plans for its Wendy’s deal
It was reported that Delight Restaurant Group is planning to build some new Wendy’s fast-food outlets in the said states and this is part of the deal. It will also be redesigning some of the restaurants that were part of the acquisition.
Moreover, the group is looking to strengthen its presence in the fast-food market through the purchase and new unit development. Verdict Food Service mentioned that the value of Wendy’s deal is unknown as it has not been disclosed to the public.
"We are excited to continue and build on the strong performance of Wendy's restaurants in the Long Island market,” Delight Restaurant Group’s managing partner, Andrew Krumholz, said in a press release. “We have an amazing team in place and look forward to making a positive difference in our communities."
Richard Krumholz, also a managing partner at DRG added that they are “thrilled to grow with this exceptional portfolio and couldn't be more excited about the future of the Wendy's brand."
About Delight Restaurant Group
This restaurant company is one of the major franchises in the U.S. Including its latest purchase of 44 Wendy’s locations, it now operates a total of 155 Wendy’s and Taco Bell chain of stores.
Even with this huge number, the firm shared that it still intends to buy more and build new restaurants so it can continue to expand.
Delight Restaurant Group was founded in 2016 by Andrew and Richard Krumholz. It acquired 54 Wendy’s in March from NPC International that is in the midst of bankruptcy.
Thus, this is the company’s second Wendy’s deal this year. The value of the first deal for outlets located in Raleigh, North Carolina was not disclosed as well. Meanwhile, the newly acquired 44 outlets have over 1,200 staff members and reportedly churn out over $85 million a year in revenues.
