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Dennis Uy buys Wendy's Philippines

MANILA, Philippines – Dennis Uy is now the master franchise holder of Wendy's Philippines.

On Tuesday, November 12, Udenna Corporation said its food group subsidiary, Eight-8-Ate Holdings, has fully acquired the Philippine operations of Wendy's.

The latest acquisition further beefs up Uy's portfolio of food businesses such as Conti's Bakeshop and Restaurant and FamilyMart.

Other than food, Uy has interests in telecommunications, energy, and logistics. (READ: Dennis Uy debuts on 2019 Forbes rich list)

Wendy's, popular for its wide selection of burgers, currently has 51 restaurants in the Philippines and is planning to expand to more key urban areas.

Uy is banking on the food business, as the Philippine economy continues to grow and inflation settles within a manageable range.

"Food is a basic need and Filipinos love to eat. We want to be in industries where there is growth and we will continue to expand our footprint in the restaurant space by offering quality, affordable dining out options," Uy said.

Abigail Pringle, president of Wendy's, said the latest business deal would further grow the brand in the Philippines.

"As we embark on our next 50 years, we are focused on accelerating growth across the globe and we are excited to bring Wendy's to even more valued customers in the Philippines through our partnership with Udenna and Eight-8-Ate," said Pringle. – Rappler.com

Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.

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