Source: James Loyola https://business.mb.com.ph/2019/11/12/udenna-buys-local-wendys/
Udenna Corporation’s food group subsidiary Eight-8-Ate Holdings, Inc. continues to bite into the local restaurant industry with its acquisition of all 51 Wendy’s restaurants in the Philippines, becoming the master franchisee of the brand in the country.
In appreciation of the new partnership, Abigail Pringle presents Dennis Uy with a special token from The Wendy’s Company during a store visit at Wendy’s PITX in Parañaque City. (Udenna Corporation)
This deal is UDENNA’s latest venture in the highly competitive food and restaurant sector following its acquisition of Enderun Colleges, Philippine FamilyMart, and Conti’s Bakeshop and Restaurant. Eight-8-Ate also operates and manages 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 Udenna Chairman and CEO Dennis Uy.
Eight-8-Ate’s President and CEO Joey Garcia noted that “the Philippine food service industry is growing at a phenomenal rate. 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.”
“Wendy’s is distinguished by 50 years of delivering exceptional restaurant experiences. Including, a quick meal made from fresh, high quality ingredients, served by friendly people in a comfortable atmosphere, and at a fair price,” said Abigail Pringle, President, International and Chief Development Officer at The Wendy’s Company.
She added that, “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.”
Under Eight-8-Ate, more restaurants are expected to open in key cities and provinces as part of an aggressive expansion plan.