On the Record · Wendy's
Wendy's acquisitions, on the record
The businesses Wendy's bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.
Deals its annual reports describe
| Business | Deal | When | Value |
|---|---|---|---|
93 restaurants from a franchiseeWord for word“During 2021, the Company acquired 93 restaurants from a franchisee.” 10-K for 2023 | acquisition | During 2021 | — |
Arby’s Restaurant Group, Inc.Word for word“Effective July 5, 2011, in connection with the Company’s sale of Arby’s Restaurant Group, Inc., the Company’s corporate name was changed to The Wendy’s Company.” 10-K for 2023 | divestiture | — | — |
Triarc Companies, Inc. and Wendy's International, Inc.Word for word“Effective September 29, 2008, in conjunction with the merger of Triarc Companies, Inc. and Wendy’s International, Inc., the Company’s corporate name was changed from Triarc Companies, Inc. to Wendy’s/Arby’s Group, Inc.” 10-K for 2024 | merger | September 29, 2008 | — |
Company-operated restaurants sold to franchiseesWord for word“The following is a summary of the disposition activity recorded as a result of our system optimization initiative: Year Ended 2024 2023 2022 Number of restaurants sold to franchisees 3 — 1 Proceeds from sales of restaurants (a) $ 1,808 $ — $ 79 Net assets sold (b) ( 1,081 ) — ( 141 ) Net unfavorable leases — — ( 360 ) Other ( 1 ) — 6 726 — ( 416 ) Post-closing adjustments on sales of restaurants (c) 694 858 2,877 Gain on sales of restaurants, net 1,420 858 2,461 (Loss) gain on sales of other assets, net (d) ( 201 ) 22 4,318 System optimization gains, net $ 1,219 $ 880 $ 6,779” 10-K for 2024 | divestiture | 2024 | — |
35 restaurants from a franchiseeWord for word“During 2025, the Company acquired 35 restaurants from a franchisee.” 10-K for 2025 | acquisition | During 2025 | — |
| Fiscal year ended | Cash paid for acquisitions (net of cash acquired) | Cash received from selling businesses | Goodwill from acquisitions |
|---|---|---|---|
| 2017-01-01 | $2.2 million | $0 | $0 |
| 2017-12-31 | $86.8 million | $0 | $66 million |
| 2018-12-30 | $21.4 million | — | $7 million |
| 2019-12-29 | $5.1 million | — | $6.9 million |
| 2021-01-03 | $4.9 million | — | — |
| 2022-01-02 | $123.1 million | — | $23.4 million |
| 2023-01-01 | $0 | — | — |
| 2023-12-31 | $0 | — | $0 |
| 2024-12-29 | $0 | — | — |
| 2025-12-28 | $16.9 million | — | $1.2 million |
Deal filings since 2016
- 2025-12-16 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2025-11-20 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2022-04-04 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2022-03-24 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2021-06-23 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2021-06-16 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2020-06-18 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2019-06-26 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2019-06-13 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2018-01-17 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2017-12-06 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
Read from Wendy's’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-23. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.