Norfolk, Va.-based franchise group adds to existing Wendy’s-Taco Bell portfolio
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Existing franchisee Delight Restaurant Group has acquired 54 additional Wendy’s restaurants in the Raleigh, N.C., metropolitan area as part of the NPC International bankruptcy deal, the company said this week.
Norfolk, Va.-based Delight said that, as part of the transaction, it plans to build several new restaurants in the Raleigh area and remodel certain acquired units in Wendy's new Image Activation format.
San Francisco-based Flynn Restaurant Group earlier this week completed its acquisition of NPC International’s 937 Pizza Hut locations and 194 of its Wendy’s restaurants.
Delight, founded in 2016 by managing partners Andrew Krumholz and Richard Krumholz, said the 54 Wendy’s units produce more than $85 million in gross annual revenue and employ more than 1,500 workers. Delight has 111 Wendy’s and Taco Bell restaurants with $185 million in annual revenue.
"We are excited to grow our Wendy's business with this highly coveted portfolio,” the managing partners said in a statement. “This is a great outcome from a large and complex bankruptcy with multiple parties involved."
Delight Restaurant Group entered the Wendy’s system in December 2016 with the acquisition of 30 restaurants in the Virginia Beach, Va., and Norfolk, Va., area.
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