Udenna Corp, controlled by a close associate of former Philippine president Rodrigo Duterte, is exploring the sale of its Conti’s Bakeshop and Restaurant and Wendy’s fast-food chain businesses in the country, five sources told Reuters.
“We are always exploring opportunities available that would be beneficial for the group,” a Udenna spokesperson told Reuters on Wednesday. A year later, it acquired all of Wendy’s restaurants in the Philippines, becoming the master franchisee of the fast-food chain in the country. It did not provide financial details on the purchase.Wendy’s has 52 stores in the Philippines, mainly in the capital.
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