Speaking on an investor call yesterday (1 March), Wendy’s president and chief executive Todd Penegor said the US-based fast-food chain was aiming to reach 45 UK outposts by the end of 2023.
It is expected that the new openings will be split primarily between company-owned restaurants and delivery kitchens.
Wendy’s has built up a footprint of 30 UK locations since re-entering the UK market in June 2021. They include 12 company-operated restaurants, two franchised locations, and 16 delivery kitchens operated in partnership with REEF Technology.
Penegor said: “We think by the end of 2023 we’ll be 45 restaurants strong across [the UK] portfolio.
“We’ve got the supply chain in place. We’re working on partners. We’ve got master franchise arrangements. We’re trying to get in place to really accelerate that growth in 2024 and beyond.”
In total, Wendy’s expects around 70% of its net store growth in 2023 to come from international sites, with 30% from the US market.
Back in November, Penegor told investors that while the UK currently had a macro backdrop that ‘is a little bit more challenged', Wendy’s was 'still committed to building up that market' and continued to see the UK as 'the big opportunity in Europe'.
The group recently announced the opening of its first UK drive-thru location in Cambridgeshire, which forms part of a new franchise deal for the East of England region.
