North-Asia buyout firm The Longreach Group said on Wednesday it had agreed to buy Wendy’s Japan, the same day that Japan delayed a sales tax hike which would have weighed on consumer spening in the world's third-largest economy.
Using the capital received from Longreach, Wendy’s Japan will buy all of hamburger and pasta fast food chain First Kitchen, a wholly-owned subsidiary of beverages conglomerate Suntory Holdings.
The timing of the deal appears to be fortuitous.
Japan's prime minister Shinzo Abe told lawmakers he will delay a planned sales tax hike until 2019. Also one of Wendy's key competitors, McDonald's Japan is...
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