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Hamra Enterprises, a Wendy’s franchisee, has completed the purchase of 25 greater Chicago Wendy’s restaurants in a refranchising deal. The sale of the restaurants is part of ongoing system optimization efforts by the franchisor that is intended to decrease its ownership position to 5 percent, or approximately 315 restaurants.
Hamra Enterprises was started in 1975 by Sam Hamra as a Wendy’s franchisee and developed its first Wendy’s restaurant in 1976. Led by Chairman Sam's CEO son Mike, who is a former telecommunications attorney, Hamra Enterprises currently owns and operates 35 restaurants in Missouri and last year acquired 30 restaurants in Massachusetts and New Hampshire. The latest acquisition earlier this month expands their presence to the state of Illinois and increases their total Wendy’s portfolio to 90 restaurants.
“We’ve been operating as successful Wendy’s franchisees since 1976 and this acquisition provides us an exciting opportunity to grow in the Wendy’s brand in a thriving market such as Chicago,” said Mike Hamra, President & CEO of Hamra Enterprises.
The Wendy's Company (NASDAQ: WEN) is the world's third largest quick-service hamburger restaurant chain. Wendy's system includes more than 6,500 restaurants in 29 countries and U.S. territories.
Hamra Enterprises is also a multi-unit franchisee for Panera Bread and Noodles & Company. It owns and operates a Holiday Inn Express hotel in Lewisville, Texas, which is ranked in the top 3 percent of the IHG hotels in North America for guest satisfaction.