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Wendy's sells Baja Fresh chain for $31 million.(Company overview)

Byline: Jim McLain

Oct. 13--Barely four years after paying $275 million in cash to buy it, Wendy's International Inc. said Thursday that it is selling its underperforming Baja Fresh Mexican grill restaurant chain for $31 million.

In a strategy aimed at reviving its brand by concentrating on its core business, Wendy's said a consortium of investment groups headed by retailer and restaurant operator David Kim of Anaheim will buy the Thousand Oaks-based chain, which was launched in 1990 as a fast-food alternative by Jim and Linda Magglos of Malibu.

Once the country's No. 1 "quick-casual" Mexican restaurant, Baja Fresh lost customers in recent years to aggressive ...

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