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New Bidder for Wendy's

The owner of 134 Wendy's restaurants wants to make a bid for the nation's No. 3 hamburger chain with two private-equity firms.

David Karam, president of Cedar Enterprises Inc., said Wednesday that he and his partners have been invited by Wendy's International, Inc. to a second round of talks. He is backed by Kelso & Co. and Oak Hill Capital Partners.

''I've been involved in the brand,'' he said. ''I see the great potential of it.''

Cedar Enterprises, based outside Columbus, owns Wendy's restaurants across the country that have a combined annual revenue of $200 million.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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