The Wendy's Company
| Company type | Public |
|---|---|
| Industry | Fast food |
| Predecessor | Deisel-Wemmer Company |
| Founded | 1884 |
| Headquarters | Dublin, Ohio , United States |
Area served | Worldwide |
Key people | Mark Tanner (CEO until July 2025), Ken Cook (interim CEO from July 18, 2025) |
| Products | Fast food, restaurant franchises (Wendy's, First Kitchen) |
Number of employees | 5,500 (2022) |
| Website | wendys |
The Wendy's Company is a United States-based fast food enterprise that functions as the parent holding entity for both Wendy's and First Kitchen. Originally established under the name Deisel-Wemmer Company, its corporate headquarters are located in Dublin, Ohio. The company's main operating subsidiary, Wendy's International, acts as the global franchisor for Wendy's restaurants.
Wendy's International
Wendy's International, Inc. serves as the franchisor for Wendy's outlets and was formerly the parent corporation of Wendy's. It once held ownership of Tim Hortons and Baja Fresh, along with a 70% interest in Cafe Express. The company’s main office is situated in Dublin, Ohio, near Columbus. Currently, Wendy's International operates under the ownership of the Wendy's Company.
Tim Hortons was separated into an independent entity in September 2006, followed by the sale of Baja Fresh within the same year. On September 15, 2008, shareholders of Triarc Companies, Inc. approved acquiring Wendy's International. This merger finalized on September 30, 2008, with Triarc rebranded as Wendy's/Arby's Group, Inc., resulting in a leadership restructuring for both Arby's and Wendy's and a stock ticker change to WEN.
Former divisions
- TDL Group, which managed Tim Hortons coffee shops across Canada and the United States from 1995 until 2009. The TDL Group was spun off in 2006, with Wendy’s officially ending its role as parent company by June 2009.
- Pasta Pomodoro – Wendy’s divested its 25% ownership stake in December 2009.
DWG years
The original entity that evolved into today’s Wendy's Company was Deisel-Wemmer Co., founded in 1884 as a manufacturer of cigars. It became incorporated as Deisel-Wemmer-Gilbert Corporation (DWG) in 1929 following acquisition by an investment consortium.
To sustain its market position during the 1930s and 1940s, DWG acquired multiple smaller cigar manufacturers such as Odin Cigars and Bernard Schwartz Cigar Corporation. The company was renamed DWG Cigar Corporation in 1946 and continued its acquisition strategy until diminishing demand for cigars necessitated a strategic pivot. By 1966, DWG fully exited the cigar industry and adopted the name DWG Corporation.
Using proceeds from its cigar operations, DWG invested in National Propane Corporation and other business opportunities. However, after being removed from the New York Stock Exchange in 1967, control passed to Victor Posner’s Security Management Company, which regarded DWG as a vehicle for corporate takeovers.
Under Posner’s direction, DWG grew via acquisitions but encountered legal issues involving pension fund mismanagement at subsidiaries such as Sharon Steel Corporation. By the mid-1980s, heavy indebtedness forced asset disposals including Foxcroft and citrus ventures. In 1984, DWG completed a hostile takeover of Royal Crown Cola along with its Arby's fast-food chain.
Posner’s leadership concluded amid legal conflicts with Granada Investments over an unsuccessful buyout attempt and investigations into irregular stock transactions. Judicial rulings diminished Security Management’s stake and introduced independent board members to DWG. After resisting these changes, Posner resigned in 1992 and sold his shares to Trian Partners, headed by Nelson Peltz and Peter May. Subsequently, shareholders dropped lawsuits accusing Posner of asset stripping during his tenure.
Triarc
After being acquired by Trian, DWG was rebranded as Triarc Companies, Inc in 1993, with Nelson Peltz assuming the role of CEO until 2007. During his tenure, the company strategically divested multiple subsidiaries to focus primarily on food and beverage sectors.
In August 1995, Triarc purchased Mistic Brands, Inc. for $97 million. By 1997, it had exited the textile sector and broadened its beverage offerings by acquiring Snapple Beverages from Quaker Oats for $300 million, a fraction of Quaker’s $1.7 billion acquisition price three years prior. That same year, Triarc also bought Cable Car Beverage Corporation, known for Stewart's Root Beer, in a $31 million stock transaction. Additionally, National Propane Corporation was sold off in 1999.
In 2000, Triarc divested Snapple, Mistic, and Stewart's to Cadbury Schweppes for $1.45 billion. Later that year, Cadbury Schweppes further strengthened its beverage portfolio by acquiring Royal Crown from Triarc.
Wendy's/Arby's
On April 24, 2008, Triarc revealed its plan to acquire Wendy's International as part of a strategic pivot from a holding company model to a dedicated food and beverage enterprise. The merger was finalized on September 15, 2008, following shareholder approval, and the combined entity was renamed Wendy's/Arby's Group, Inc.
The Wendy's Company
In January 2011, Wendy's/Arby's Group announced intentions to sell Arby's due to stagnant sales since the 2008 acquisition. At that time, Arby's operated approximately 3,700 outlets. On June 13, 2011, a majority stake in Arby's was sold to Roark Capital Group, while Wendy's retained an 18.5% share.
By August 2011, Wendy's shifted its corporate headquarters from Sandy Springs, Georgia to the Dublin Restaurant Support Center in Dublin, Ohio, consolidating operations and relocating roughly 220 positions. The Atlanta support office was closed by the end of that year to centralize management functions.
On August 16, 2018, Wendy's divested a 12.3% ownership interest in Arby's parent company Inspire Brands, formed following Arby's acquisition of Buffalo Wild Wings earlier that year.
In July 2025, CEO Mark Tanner announced his departure to lead The Hershey Company, with CFO Ken Cook appointed as interim CEO effective July 18, 2025.
Finances
| Year | Revenue in mil. USD$ |
Net income in mil. USD$ |
Total Assets in mil. USD$ |
Employees | Systemwide restaurants |
|---|---|---|---|---|---|
| 2005 | 727.3 | −55.2 | 2,809.5 | 25,203 | 3,506 |
| 2006 | 1,243.3 | −10.9 | 1,560.4 | 24,372 | 3,585 |
| 2007 | 1,263.7 | 16.1 | 1,454.6 | 26,605 | 3,688 |
| 2008 | 1,822.8 | −479.8 | 4,645.6 | 70,290 | 10,386 |
| 2009 | 3,580.8 | 5.1 | 4,975.4 | 67,500 | 10,259 |
| 2010 | 3,416.4 | −4.3 | 4,732.7 | 64,100 | 10,225 |
| 2011 | 2,431.4 | 9.9 | 4,289.1 | 42,800 | 6,594 |
| 2012 | 2,505.2 | 7.1 | 4,303.2 | 44,000 | 6,560 |
| 2013 | 2,487.4 | 45.5 | 4,363.0 | 37,000 | 6,557 |
| 2014 | 2,061.1 | 121.4 | 4,145.8 | 31,200 | 6,515 |
| 2015 | 1,870.3 | 161.1 | 4,108.7 | 21,200 | 6,479 |
| 2016 | 1,435.4 | 129.6 | 3,939.3 | 12,100 | 6,537 |
| 2017 | 1,223.4 | 194.0 | 4,096.9 | 12,100 | 6,634 |
| 2018 | 1,589.9 | 460.1 | |||
| 2019 | 1,709.0 | 136.9 | |||
| 2020 | 1,733.8 | 117.8 | |||
| 2021 | 1,897 | 200.4 | 5,100 | 14,500 | |
| 2022 | 2,095 | 177.4 | 5,500 |