Wendy’s acquires stake in casual-dining chain
For the third time this year, Wendy’s has acquired an ownership position in a smaller restaurant company. The nation’s third-largest hamburger chain said it will pay $ 12 million for a 25 percent stake in Pasta Pomodoro, a San Francisco-based company that has 24 full-service, casual restaurants that feature Italian food.
Wendy’s also has an option to acquire the chain in the future. ‘Pasta Pomodoro fits very well into our strategic framework for mergers, acquisitions and investments’, said Jack Schuessler, chairman and chief executive of Dublin-based Wendy’s. The investments will help Wendy’s diversify the company and provide ‘future growth drivers’, he said.