Wendy's/Arby's Group, Inc (NYSE: WEN) is a holding company for two major fast food chains, Arby's and Wendy's. Wendy’s/Arby’s Group has its headquarters in Sandy Springs, Georgia.[3][4]
The company's principal subsidiaries, Arby's Restaurant Group, Inc. (ARG) and Wendy's International, are the franchisors of Arby's and Wendy's restaurants, respectively. As of June 2008, the combined company has over 10,000 restaurants in both chains. There were a total of 3,719 Arby's restaurants in the system, including 1,169 Company-owned and 2,550 franchised locations. There were 6,625 Wendy's restaurants in operation in the United States and in 21 other countries and territories. Of these restaurants, 1,402 were operated by Wendy's and 5,223 by Wendy's franchisees.[5] The company is also a franchisor of T.J. Cinnamons and the Pasta Connection and owns 243 T.J. Cinnamons outlets and 6 Pasta Connection outlets.

Wendy’s/Arby’s Group, Inc., incorporated 1929, is the parent company of its wholly owned subsidiary holding company, Wendy’s/Arby’s Restaurants, LLC (Wendy’s/Arby’s Restaurants). Wendy’s/Arby’s Restaurants is the parent company of Wendy’s International, Inc. (Wendy’s) and Arby’s Restaurant Group, Inc. (ARG), which are the owners and franchisors of the Wendy’s and Arby’s restaurant systems, respectively. As of January 3, 2010, the Wendy’s restaurant system consisted of 6,541 restaurants, of which 1,391 were owned and operated by the Company. As of January 3, 2010, the Arby’s restaurant system consisted of 3,718 restaurants, of which 1,169 were owned and operated by the Company. The Company operates in two business segments: Wendy’s and Arby’s.
The Wendy’s Restaurant System
Wendy’s is primarily engaged in the business of operating, developing and franchising a system of quick-service restaurants. As of January 3, 2010, there were 6,541 Wendy’s restaurants in operation in the United States and in 21 foreign countries and United States territories. Of these restaurants, 1,391 were operated by Wendy’s and 5,150 by a total of 487 franchisees. The revenues from the Company’s restaurant business are derived from four principal sources: sales at Company-owned restaurants; sales of bakery items and kid’s meal promotional items to franchisees and others; franchise royalties received from all Wendy’s franchised restaurants, and up-front franchise fees from restaurant operators for each new unit opened. Wendy’s is also a partner in a Canadian restaurant real estate joint venture with Tim Hortons, Inc. The joint venture owns Wendy’s/Tim Hortons combo units in Canada. As of January 3, 2010, there were 105 Wendy’s restaurants in operation that were owned by the joint venture. The Tim Hortons menu includes premium coffee, flavored cappuccinos, specialty teas, home-style soups, fresh sandwiches and fresh baked goods.
During the fiscal year ended January 3, 2010 (fiscal 2009), Wendy’s opened 10 new restaurants and closed 13 underperforming restaurants. In addition, Wendy’s sold 12 Company-owned restaurants to its franchisees. During fiscal 2009, Wendy’s franchisees opened 53 new restaurants and closed 68 generally underperforming restaurants. In addition, 71 franchised restaurants were closed in Japan, as of Janaury 3, 2010, upon the expiration of the related franchise agreement. Each Wendy’s restaurant offers a standard menu featuring hamburgers and filet of chicken breast sandwiches, which are prepared to order with the customer’s choice of condiments. Wendy’s menu also includes chicken nuggets, chili, baked and french fried potatoes, freshly prepared salads, soft drinks, milk, Frosty desserts, floats and kids' meals. In addition, the restaurants sell a variety of promotional products on a limited basis.
The New Bakery Co. of Ohio, Inc. (Bakery), a wholly owned subsidiary of Wendy’s, is a producer of buns for some Wendy’s restaurants, and to a lesser extent for other outside parties, including certain distributors to the Arby’s system. As of January 3, 2010, the Bakery supplied 692 restaurants operated by Wendy’s and 2,476 restaurants operated by franchisees. The Bakery also manufactures and sells some products to customers in the grocery and other food service businesses. As of January 3, 2010, Wendy’s had 136 Company-owned and 235 franchised restaurants in Canada, and 293 franchised restaurants in 20 other countries and United States territories. Wendy’s Restaurants of Canada Inc. (WROC), a wholly owned subsidiary of Wendy’s, holds master franchise rights for Canada.
The Company competes with McDonald’s, Burger King, Taco Bell and Kentucky Fried Chicken.
The Arby’s Restaurant System
Arby’s is a restaurant franchising system specializing in the roast beef sandwich segment of the quick service restaurant industry. As the franchisor of the Arby’s restaurant system, ARG, through its subsidiaries, owns and licenses the right to use the Arby’s brand name and trademarks in the operation of Arby’s restaurants. As of January 3, 2010, there were 1,169 Company-owned Arby’s restaurants and 2,549 Arby’s restaurants owned by 470 franchisees. Of the 2,549 franchisee-owned restaurants, 2,427 operated within the United States and 122 operated outside the United States, principally in Canada. The revenues from the Arby’s restaurant business are derived from three principal sources: sales at Company-owned restaurants; franchise royalties received from all Arby’s franchised restaurants, and up-front franchise fees from restaurant operators for each new unit opened. ARG also owns the T.J. Cinnamons concept, which consists of gourmet cinnamon rolls, gourmet coffees and other related products. As of January 3, 2010, there were a total of 108 T.J. Cinnamons outlets, 96 of which are multi-branded with domestic Arby’s restaurants.
During fiscal 2009, ARG opened five new Arby’s restaurants and closed 23 underperforming Arby’s restaurants. In addition, ARG acquired 12 existing Arby’s restaurants from its franchisees and sold one existing Arby’s restaurant to a franchisee. During fiscal 2009, Arby’s franchisees opened 54 new Arby’s restaurants and closed 74 generally underperforming Arby’s restaurants. In addition, during fiscal 2009, Arby’s franchisees closed 36 T.J. Cinnamons outlets located in Arby’s units. During fiscal 2009, Arby’s launched its line of Roastburger sandwiches, which are Arby’s roast beef sandwiches dressed with traditional hamburger toppings.
The Company competes with Panera Bread, Subway and Quiznos, McDonald’s, Burger King, Taco Bell, Chick-Fil-A and Kentucky Fried Chicken.

Wendy's/Arby's Group traces its history back to several predecessors, the oldest of which (Deisel-Wemmer Co., a cigar manufacturer and importer based in Ohio) was founded in 1884. By January 23, 1929, Deisel-Wemmer incorporated as Deisel-Wemmer-Gilbert Corporation (DWG) when acquired by an investment group. DWG was a small outfit and just to keep up market share purchased other small cigar companies like Odin cigars in 1930 and the Bernard Schwartz Cigar Corporation in 1939.
On May 15, 1946, the Company changed its name to a simple name, DWG Cigar Corporation. Another series of acquisitions started in 1948 with the Nathan Elson Company following with A. Sensenbrenner & Sons in 1955 and in 1956 Chicago Motor Club Cigar and Reading, Pennsylvania-based Yocum Brothers. With the weakening of the cigar market due to medical advisories, many smokers switched to cigarettes, which were then believed to be safer. DWG then streamlined cigar operations and began looking for other businesses that might suit DWG's wholesale and distribution strength.
The New York Stock Exchange delisted DWG in 1965 after an attempt at purchasing Allegheny Pepsi bottling company failed. DWG, thus free from NYSE reporting requirements, sold their remaining cigar operations or closed them in 1966. Renamed as DWG Corporation, DWG used its cash from the cigar operation sale to purchase a 12% share of the National Propane Corporation. Security Management Company, headed by Victor Posner, a major investor in DWG saw potential with the company as it was bold to sell its main operation. Posner saw it as a good takeover vehicle and became the controlling interest of DWG.

In 1993, DWG's name was changed to Triarc Companies, Inc. Peltz served as CEO of the company from 1993 through 2007, during which time the company sold several holdings in order to focus on food and beverage operations after initially deciding on focusing on soft drinks, fast food, textiles, and liquefied petroleum gas.
Triarc in August 1995 purchased Mistic Brands, Inc. from Joseph Victori Wines, Inc. for $97 million, adding to its beverage holdings of Royal Crown Cola, and turned Mistic Brands around with the addition of new products. Triarc sold off its textiles by 1997.
In 1997, Triarc acquired Snapple Beverages from Quaker Oats, which had bought the company from leveraged buyout firm Thomas H. Lee Partners in 1994 for $1.7 billion. Quaker discontinued the Wendy Kaufman advertisements and sold Snapple to Triarc for $300 million in 1994. Triarc reintroduced Wendy the Snapple Lady (Wendy Kaufman), who had been terminated by Quaker Oats.Cable Car Beverage Corporation, maker of Stewart's Root Beer and other flavors, was purchased by Triarc in November 1997.
National Propane Corporation was sold in 1999.
Snapple, Mistic, and Stewart's (formerly Cable Car Beverage) was sold by the company to Cadbury Schweppes in 2000 for $1.45 billion In October of that same year, Cadbury Schweppes purchased Royal Crown from Triarc.


OVERALL
Beta: 1.02
Market Cap (Mil.): $2,074.16
Shares Outstanding (Mil.): 419.02
Annual Dividend: 0.08
Yield (%): 1.62
FINANCIALS
WEN Industry Sector
P/E (TTM): -- 27.89 21.66
EPS (TTM): -127.20 -- --
ROI: -0.05 8.87 1.89
ROE: -0.11 10.96 2.88

Name Age Since Current Position
Nelson Peltz 68 2007 Non-Executive Chairman of the Board
Roland Smith 56 2010 President, Chief Executive Officer, Director
Peter May 68 2007 Non-Executive Vice Chairman of the Board
Stephen Hare 57 2007 Chief Financial Officer, Senior Vice President
J. David Karam 52 2008 President of Wendy’s International, Inc.
Hala Moddelmog 55 2010 President of Arby’s Restaurant Group, Inc.
Steven Graham 57 2007 Senior Vice President, Chief Accounting Officer
Sharron Barton 59 2008 Senior Vice President, Chief Administrative Officer
Nils Okeson 45 2007 Senior Vice President, General Counsel, Secretary
John Barker 48 2008 Senior Vice President, Chief Communications Officer
Darrell van Ligten 46 2010 Senior Vice President - Strategic Development; President of Wendy’s/Arby’s International, Inc
Edward Garden 49 2007 Director
Clive Chajet 74 1994 Independent Director
Joseph Levato 70 1996 Independent Director
David Schwab 79 1994 Independent Director
Raymond Troubh 84 1994 Independent Director
Jack Wasserman 74 2004 Independent Director
V. Janet Hill 63 2008 Independent Director
J. Randolph Lewis 61 2008 Independent Director
Peter Rothschild 55 2010 Independent Director


COMPANY ADDRESS
Wendy's/Arby's Group Inc
1155 Perimeter Center West
12th Floor
Atlanta GA 30338
 
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