As part of GYP’s strategic diversification, Global Food Retail Group (“GFRG”), a subsidiary of GYP, acquired the Wendy’s brand in September 2014. This portfolio diversification will bring value to our stakeholders by capitalising on opportunities in the food and beverage industry. The acquisition’s strategy is to expand into Asian markets which have a strong underlying growth potential, placing us in a robust position with diversified income from a global franchise network.
Wendy’s is an iconic Australian brand with a 36-year heritage and has grown to be one of Asia Pacific’s and Australia’s largest ice cream and hot dog franchises. Its award-winning scoop and soft serve ice cream are exclusively developed and produced. Wendy’s commitment to product quality stems from the usage of dairy and meat products that are the best in their class.
Wendy’s has a platform for growth with a scalable business model and potential for synergies. By taking on the Wendy’s franchise, GYP intends to utilise Wendy’s position as an international brand as a platform for global expansion. Currently there are plans to extend the presence of Wendy’s into Asia in 2016.
To ensure the successful expansion of the Wendy’s brand overseas, GYP has identified the need to re-energise the brand and marketing strategy. Wendy’s has been rebranded to Wendy’s Milk Bar, giving the brand a contemporary makeover to reignite the magic in its home markets, while providing Wendy’s a distinctive springboard to enter new Asian and Global markets.