Dennis Uy’s Udenna Corp. takes over Wendy’s Philippines
MANILA, Philippines — Dennis Uy-led Udenna Corporation announced Tuesday its acquisition of Philippine franchise of American fast-food burger giant Wendy’s — the latest addition to the Davao-based businessman’s growing empire.
Udenna took over Wendy’s local operations through its subsidiary Eight-8-Ate Holdings Inc.
Uy now owns 51 Wendy’s restaurants in the country and he plans to open more branches in key cities and provinces.
“We want to be in industries where there is growth and we will continue to expand our footprint in the restaurant space by offering quality, affordable dining out options,” Uy said.
Uy — who made his debut on Forbes magazine’s 2019 Philippines Rich List — has been aggressively expanding his business since his friend, President Rodrigo Duterte, started his term in 2016. His holding firm Udenna Corp. has a diverse range of companies under its control.
Last year, Udenna acquired 70% of Conti’s Holdings Corp., the restaurant chain behind the popular Conti’s brand.
In 2017, Uy added an education segment to his business through the acquisition of Enderun Colleges located in Taguig.
He also purchased the local operator of Family Mart convenience stores last October through Phoenix Petroleum.
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