Wendy's explores sale of Arby's

ATLANTA, Jan. 20 (UPI) -- Fast-food giant Wendy's/Arby's Group is exploring the possible sale of the Arby's Restaurant Group and brand, the company said Thursday.

"We believe the way to maximize shareholder value is to focus all of our management and financial resources on continuing to build the Wendy's brand," Nelson Peltz, Wendy's/Arby's Group chairman, said in a release issued from the company's headquarters in Atlanta. "Arby's is a good business, and we are making progress improving its performance … ."

Despite Arby's momentum, "the reality is that the Wendy's brand, given its relative size and scope, is the key driver of shareholder return, and we believe we should focus on the execution of the compelling growth opportunities at Wendy's," Peltz said.

Wendy's has more than 6,500 restaurants in more than 20 countries "and is one of the more attractive growth stories in the quick-service restaurant industry, said Roland Smith, president and chief executive officer of Wendy's/Arby's Group.

Focusing on Wendy's will allow the company to work to enhance the Wendy's brand through new store growth, Smith said.