Peltz builds bid to buy Wendy’s amid sales struggles

Billionaire Nelson Peltz is once again looking to take Wendy’s private as the burger chain tries to revive its business, according to the Financial Times.

Peltz already owns a 16.24% stake in the chain and previously explored a takeover in 2022.

Now, his Trian Fund Management is building an investor group that could include BlueFive Capital and Flynn Group, a major Wendy’s franchisee. They could reportedly make an offer within the next few weeks.

Wendy’s shares climbed about 12% after the news.

The fast-food chain has faced months of weaker demand and recently pulled its financial outlook for 2026 after comparable sales declined.

It has reported six straight quarters of declining same-store sales as value-conscious consumers pull back.

The chain has also lost share in the quick-service hamburger market for 17 consecutive months.

More than two decades ago, Trian and Peltz waged an activist campaign at Wendy’s, with Peltz later serving as chairman.

The business, currently worth around $1.44 billion, said it would carefully consider any formal offer.