Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTCris TolomiaWed, August 12, 2026 at 7:24 PM GMT+2 2 min readAccording to a source familiar with the matter, Trian Fund Management — the firm led by Nelson Peltz — is putting together a group of investors with the goal of taking Wendy's private, Reuters reported Wednesday. Wendy's stock jumped as much as 15% on the news and was temporarily halted for volatility.Reuters reported that BlueFive Capital and Flynn Group, a franchisee with one of the longest tenures in the Wendy's system, are among the parties that may join the consortium. A bid is expected in the coming weeks, though the source cautioned the exact timing could change.Trian holds a 7.85% stake in Wendy's, and Nelson Peltz holds a 16.24% interest, according to a regulatory filing. Wendy's carries a market value of about $1.44 billion. The company said it would review any proposal from Trian in line with its fiduciary duties.This is not the first time Trian has explored a Wendy's buyout. The firm examined a potential takeover of the burger chain in 2022 but decided against pursuing it. In a February regulatory filing, Trian described Wendy's stock as undervalued and disclosed that it had spoken with possible financing sources about potential deals, including an acquisition or other major transactions.Wendy's has been contending with a prolonged stretch of weak performance. The chain cut its quarterly dividend in half and withdrew its full-year financial outlook last week after reporting that comparable U.S. restaurant sales fell 7.0% in the second quarter versus the prior-year period. It was the chain's sixth consecutive quarter in negative same-store sales territory, CNBC noted. As a result of the sustained slump, Restaurant Brands International's Burger King has displaced Wendy's from its position as the country's second-biggest burger chain when measured by system sales, CNBC reported.Bob Wright, who was named permanent president and CEO in May, has outlined a turnaround plan centered on rebuilding the menu at compelling value, demand-driving marketing, and improved digital capabilities. Before joining Wendy's, Wright had overseen a similar going-private process at Potbelly Corporation. Trian executive Peter May and Nelson Peltz's son, Bradley Peltz, still sit on Wendy's board.The move comes against a backdrop of industrywide strain, with fast-food chains struggling to attract cost-conscious diners even as they lean on promotional pricing. Wendy's earlier outlined a restructuring effort called Fresh Start, targeting stronger domestic sales, a refreshed menu, and the closure of its lowest-performing restaurants, while also signing a franchise agreement calling for as many as 1,000 locations to be built across China over a decade.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info