Wendy's/Arby's Group, the US quick-service restaurant company has completed the sale of its struggling Arby’s restaurant chain to private equity firm Roark Capital Group, for $130m (£79.7m), and immediately dropped the Arby’s name. As part of the deal Roark, which already operates the Auntie Anne’s and Cinnebon restaurant chains, has assumed around $190m in debt. Wendy’s, which will retain a 18.5% stake in the c.3,600-strong Arby’s, will now focus solely on its burger chain under the name Wendy's Company. It intends to reinvest some of the money from the deal toward further international expansion and menu development of Wendy’s.

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