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Wendy's sells Baja Fresh chain for $31 million.(Company overview)
- Article from:
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Ventura County Star (Ventura, CA)
- Article date:
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October 13, 2006
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Copyright informationCOPYRIGHT 2006 Ventura County Star. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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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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