Wendy's Announces New Development Agreements for 190 New Restaurants Across Italy and Armenia

Rhea-AI Summary

Wendy's (NASDAQ:WEN) has announced significant international expansion plans through two new franchise agreements that will bring 190 new restaurants to Italy and Armenia. The larger agreement with Your Food S.R.L will develop 170 restaurants across Italy through 2035, with the first two locations opening in Milan by mid-2026.

In Armenia, Wen Restaurant LLC will develop 20 new restaurants through 2030, with the first location planned for Yerevan's city center. These agreements support Wendy's strategic goal of achieving 2,000 international restaurants by 2028, with 70% of unit growth targeted outside the United States.

Positive

• Strategic expansion adding 190 new restaurants across Italy and Armenia
• Partnership with experienced local operators in both markets
• Alignment with goal to reach 2,000 international restaurants by 2028
• 70% of unit growth targeted outside the United States

Negative

• Long development timeline stretching to 2035 for Italian expansion
• Significant execution risk in new markets with different consumer preferences

News Market Reaction – WEN

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Momentum builds behind global expansion strategy as brand aims to accelerate global net unit growth to achieve 2,000 international restaurants by 2028

DUBLIN, Ohio, July 15, 2025 /PRNewswire/ -- The Wendy's Company announced today the finalization of two new franchise agreements that will add up to 190 new Wendy's^® restaurants across Italy and Armenia, marking a significant step forward in advancing the brand's strategic priority to accelerate global net unit growth. These commitments support Wendy's goal to achieve 70 percent of its unit growth outside the United States, with the Company expecting to reach 2,000 international restaurants by 2028.

ITALY: Wendy's has entered into an exclusive franchise agreement with Your Food S.R.L to develop 170 new Wendy's restaurants across Italy through 2035, representing a significant acceleration of the brand's European expansion. With extensive experience across the food and beverage industry, real estate, construction, hotel and resort industries, and financial services sectors, Your Food is well-positioned to bring Wendy's to new Italian markets. The first two Wendy's restaurants in Italy are planned to open mid-year 2026 in Milan, laying the foundation for long-term growth in the region.

ARMENIA: Wendy's has signed an exclusive franchise agreement with Wen Restaurant LLC to develop 20 new Wendy's restaurants in Armenia through 2030, further advancing the brand's footprint in the Europe, Middle East and Africa region. Wen Restaurant, a recognized leader in the food, retail, hospitality, and distribution industries, brings deep operational expertise and market insights. The first Armenia Wendy's location is expected to open in Yerevan's city center.

E.J. Wunsch, President, International, The Wendy's Company said, "These agreements are yet another example of the success of our accelerated growth strategy. With each new partnership, our momentum increases. And, the best is yet to come. Wendy's has never been better positioned to scale internationally, and we are proud to partner with Your Food and Wen Restaurant. Together, we will bring our fresh, famous food and world-class hospitality to communities all across Italy and Armenia. With the strength of the Wendy's brand and the local expertise of our new partners, we will build high performing restaurants that reflect our 'globally great, locally even better' mindset."

Mario Resca, Chairman, Your Food S.R.L. said, "We are incredibly proud to partner with Wendy's to bring its iconic brand and fresh, high-quality food to Italy. This marks an exciting chapter as we introduce a new quick service restaurant standard that combines bold innovation, exceptional hospitality, and a deep appreciation for the tastes and preferences of Italian consumers. We look forward to creating a fresh customer experience and becoming a beloved part of the Italian food scene."

Hrant Grigoryan, Chief Executive Officer, Wen Restaurant LLC said, "Launching Wendy's in Armenia represents a bold step forward in redefining the quick service restaurant experience in our country. We are bringing a fresh perspective—one rooted in quality, innovation, and modern hospitality. From made-to-order menu items to a customer-first approach, we are proud to introduce Wendy's fresh, famous food to Armenian consumers in a way that reflects their evolving tastes and sets a new standard in the region."

Learn more about Wendy's International franchising opportunities on our website.

About Wendy's
The Wendy's Company (Nasdaq: WEN) and Wendy's^® franchisees employ hundreds of thousands of people across more than 7,000 restaurants worldwide. Founded in 1969, Wendy's is committed to the promise of Fresh Famous Food, Made Right, For You, delivered to customers through its craveable menu including made-to-order square hamburgers using fresh beef*, and fan favorites like the Spicy Chicken Sandwich and nuggets, Baconator^®, and the Frosty^® dessert. Wendy's supports the Dave Thomas Foundation for Adoption^®, established by its founder, which seeks to dramatically increase the number of adoptions of children waiting in North America's foster care system. Learn more about Wendy's at www.wendys.com. For details on franchising, visit www.wendys.com/franchising. Connect with Wendy's on X, Instagram and Facebook.
*Fresh beef available in the contiguous U.S. and Alaska, as well as Canada, Mexico, Puerto Rico, the UK, and other select international markets.

Wendy's Media Contact
Lisa Smith, Vice President, System Communications
mediarelations@wendys.com

About Your Food S.R.L.
Your Food S.R.L. is committed to bringing Wendy's renowned concept—fresh, high-quality meals at affordable prices—to Italian consumers. The company proudly shares the foundational beliefs that have defined Wendy's since its founding by Dave Thomas: quality, honesty, and a people-first approach. Backed by the strong experience of its founders and a deep understanding of local market trends, Your Food S.R.L. aims to become a major force in the Italian QSR industry. With a solid expansion strategy and a focus on innovation and consistency, Your Food S.R.L. is ready to shape the future of quick dining in Italy.

About Wen Restaurant LLC
Wen Restaurant LLC, part of the Connect Group, a recognized market leader across food, retail, hospitality, and distribution, is redefining the quick service restaurant landscape in Armenia. Backed by deep operational expertise and market insight, Wen Restaurant LLC is introducing Wendy's fresh, made-to-order menu with a strong focus on delivering exceptional food and hospitality. Wen Restaurant LLC aims to become a market leader in the QSR industry in Armenia.

Forward Looking Statements
This release contains certain statements that are not historical facts, including statements regarding the Company's long-term global net unit growth and intention to develop restaurants in Italy and Armenia in collaboration with Your Food S.R.L. and Wen Restaurant LLC. Those statements, as well as statements preceded by, followed by or that include the words "will," "may," "believes," "intends," "plans," "expects," "anticipates," or similar expressions constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). The forward-looking statements are based on the Company's expectations at the time, speak only as of the dates they are made and are susceptible to a number of risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from those expressed or implied in any forward-looking statement. These factors include, but are not limited to, the factors identified in the "Special Note Regarding Forward-Looking Statements and Projections" and "Risk Factors" sections of our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q and in our other filings with the Securities and Exchange Commission. For all forward-looking statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Reform Act.

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SOURCE The Wendy’s Company

FAQ

How many new Wendy's restaurants are planned for Italy by 2035?

Wendy's plans to develop 170 new restaurants across Italy through 2035, with the first two locations opening in Milan by mid-2026.

What is Wendy's international restaurant target for 2028?

Wendy's aims to reach 2,000 international restaurants by 2028, with 70% of its unit growth targeted outside the United States.

When will Wendy's open its first restaurant in Armenia?

Wendy's first restaurant in Armenia is expected to open in Yerevan's city center, as part of a development agreement for 20 restaurants by 2030.

Who are Wendy's franchise partners for Italy and Armenia expansion?

Your Food S.R.L will develop restaurants in Italy, while Wen Restaurant LLC will handle the Armenian expansion. Both partners have extensive experience in food, hospitality, and retail industries.

When will the first Wendy's restaurants open in Italy?

The first two Wendy's restaurants in Italy are planned to open in Milan by mid-year 2026.