(Oct. 20) Wendy’s International Inc., Dublin, Ohio, has announced plans to sell its Baja Fresh Mexican Grill business to an undisclosed “West Coast-based restaurant operating company” for about $31 million.
Wendy’s said the deal, which involves the sale of some 300 Baja Fresh restaurants in the U.S., would likely close in the fourth quarter.
The transaction follows Wendy’s recent sell-off of its Tim Hortons restaurant chain, and the company said it also is pursuing strategic alternatives for its Café Express and Pasta Pomodoro businesses.
The changes, Wendy’s said, are part of a strategy for the firm to sharpen the focus on its own brand. Wendy’s has targeted a $100 million cost reduction to begin in 2007.