The FINANCIAL — East Balt Bakeries and The Wendy’s Company on June 2 jointly announced they have completed a stock transaction under which East Balt has acquired Wendy’s Zanesville, Ohio bakery business, The New Bakery Company, LLC.
“We are pleased to add the New Bakery business and employees to the East Balt family,” said East Balt CEO Mark Bendix. “We are excited about the potential opportunity to further expand our U.S. bakery operations and to service a terrific global brand like Wendy’s. We look forward to continuing to work with the Wendy’s and New Bakery leadership teams to fully transition the business in the coming weeks.”
“The sale of the New Bakery business is consistent with Wendy’s growth and financial strategies to focus resources against our core restaurant business,” said Wendy’s President and CEO Emil Brolick. “We believe New Bakery and its employees have the potential to thrive and grow as part of an industry-leading and dedicated bakery company like East Balt. We thank and recognize the New Bakery team for their important contributions to the Wendy’s brand.”
The facility will continue to serve as one of Wendy’s bakery vendors to provide the Wendy’s system with a consistent supply of high-quality products, according to Wendy’s Company.
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