Pompano firm acquires 34 Wendy’s restaurants in Knoxville

JAE Restaurant Group LLC now owns 213 Wendy's restaurants in four states, including 137 in Florida, according to its website

Miami /
Mar.March 04, 2018 11:45 AM

Jhonny Mercado, co-chairman of JAE Restaurant Group LLC

A Pompano Beach-based company bought 34 Wendy’s restaurants in Knoxville, Tennessee.

JAE Restaurant Group LLC paid an undisclosed price to The Wendy’s Company of Dublin, Ohio, for the Knoxville restaurants.

The sale was part of a plan by The Wendy’s Company to adopt a predominantly franchised business model and to reduce its company-owned restaurants to 5 percent of the 6,500 Wendy’s restaurants.

According to its website, JAE now owns 213 Wendy’s restaurants in four states, including 137 in Florida.

JAE this year plans to remodel four Wendy’s restaurants in Knoxville by installing fireplaces, Wi-Fi access, digital menu boards and flat-screen television sets.

Over the next four years, JAE expects to remodel the rest of its Wendy’s restaurants in Knoxville and to open 10 new ones there.

JAE is investing in the Wendy’s brand in Knoxville because of its “friendly tax environment, affordable housing, younger population and large number of university students,” said Jhonny Mercado, co-chairman of JAE.

The Pompano Beach company sees Knoxville as “an underpenetrated market for the brand,” Mercado said.

In 2016, JAE acquired 97 Wendy’s locations in southeast Florida. JAE is owned by Mercado, Andres Garcia and Eddie Rodriguez, who opened their first Wendy’s in 1993 in Hialeah. [South Florida Business Journal]Mike Seemuth


Related Articles

arrow_forward_ios
Hollywood Locations' Christopher Ursitti and 1400 Northwest 31st Avenue (Hollywood Locations, Google Maps)
Movie studio complex may rise on former incinerator site in Fort Lauderdale
Movie studio complex may rise on former incinerator site in Fort Lauderdale
McDowell wants to build 201 apartments near Homestead, puts land under contract
McDowell wants to build 201 apartments near Homestead, puts land under contract
McDowell wants to build 201 apartments near Homestead, puts land under contract
Jackie Soffer with 2750 Northeast 199th Street (Google Maps, Turnberry.com)
Jackie Soffer’s Turnberry proposes office/retail project near Aventura Mall
Jackie Soffer’s Turnberry proposes office/retail project near Aventura Mall
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
New York, Miami, Chicago, Los Angeles, San Francisco and Chicago (iStock)
As rent explodes nationally, Miami tops the charts
As rent explodes nationally, Miami tops the charts
Alta Developers’ Raimundo Onetto in front of the development site (Google Maps)
Heading south: Alta buys dev site for apartment complex near Homestead
Heading south: Alta buys dev site for apartment complex near Homestead
Grant Cardone and a rendering of LAs Olas Walk (Cardone Capital, ZOM/McNeal Realty)
Grant Cardone to buy $750M in SoFla apartments
Grant Cardone to buy $750M in SoFla apartments
The current building on Dania Beach (Google Maps)
Shuttered Dania Beach waterfront restaurant could get new life as Lucky Fish
Shuttered Dania Beach waterfront restaurant could get new life as Lucky Fish
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...