By Inside Retail Asia
Wendy’s Philippines and Conti’s Bakeshop, run by Filippino businessman Dennis Uy, have been sold to a local entrepreneur, reports the Philippine Daily Inquirer.
Uy has decided to sell his Eight8Ate Holdings company, which operates the two chains, to Crystal Jacinto. The sale comes after the multibillion-peso food retailing business bundle has been on the market for almost two years.
Jacinto, who runs European Wellness Villa Medica Manila – a health and wellness centre specialising in anti-aging and disease management solutions, will take full control of the company, according to the news agency’s sources. She is also reportedly backed by her husband and Malaysian businessman Jaya Sudhir.
Wendy’s, which had 70 stores as of June, and Conti’s, which had 74 stores, were acquired by Uy in 2019, shortly before the pandemic.
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