Nelson Peltz Forms Consortium to Take Wendy's Private

Nelson Peltz and his investment firm, Trian Fund Management, are forming a consortium of investors to launch a take-private bid for the fast-food chain Wendy's. The potential investor group may include BlueFive Capital and the Flynn Group, a long-term franchisee of the burger chain.

Wendy's shares rose approximately 15% on Wednesday following the news. The bid arrives as the company struggles with sluggish demand and declining quarterly comparable sales, which prompted Wendy's to withdraw its fiscal 2026 forecast last week.

Peltz currently holds a 16.24% stake in the company, while Trian Fund Management holds an additional 7.85%. Wendy's stated it will review any proposal from Trian in accordance with its fiduciary duties.