Key Takeaways
- • Wendy's will re-enter Italy through an exclusive franchising agreement with Your Food, an Italian holding led by Mario Resca, former chairman and CEO of McDonald's Italia, with the first restaurant set to open inside Rome's Euroma2 shopping centre.
- • The Italian expansion plan targets 170 restaurants by 2035, beginning with a standalone Milan location in the Duomo district slated for early 2027.
- • Trian Fund Management, Nelson Peltz's firm, together with Flynn Group, BlueFive Capital and Sixth Street Partners, made an unsolicited non-binding cash proposal of $7.35 per share for Wendy's on 28 October, valuing equity at about $1.4 billion according to Reuters.
- • Trian and its backers already hold 16.3% of Wendy's, positioning the take-private bid as a significant step for the Nasdaq-listed chain.
Summary
Nasdaq-listed Wendy's is returning to Italy with the support of Your Food, a holding company headed by Mario Resca, the former chairman and CEO of McDonald's Italia. According to ItaliaOggi, reported on 2 November, the first restaurant will open inside the Euroma2 shopping centre in Rome on 19 November, while a standalone restaurant will follow in Milan's Duomo district in early 2027. The plan calls for just under ten further openings ahead of a target of 170 restaurants by 2035. Your Food announced its exclusive franchising agreement with Wendy's in July 2026.
Your Food's shareholders include Metis, the holding company of Corrado Passera, former CEO of Intesa Sanpaolo and founder of illimity Bank; Milan-listed PIPE investor First Capital, which holds 30.2%; Venus, a vehicle of Stefano Core, former CEO of Balich Wonder Studio; and BGenera, owned by the Buglisi family, with 23.7%. BGenera also owns EdS Infrastrutture. In May 2026, Passera paid one million euros for a 20% stake, while Resca acquired 2.5%. Your Food also holds a licence to develop the Hard Rock Cafe brand in Sicily with local partners.
The Italian expansion comes as Wendy's discusses a take-private proposal. On 28 October, the company disclosed an unsolicited, non-binding cash acquisition proposal of $7.35 per share from Trian Fund Management, the firm of activist investor Nelson Peltz, together with Flynn Group, BlueFive Capital and Sixth Street Partners. Reuters reported the bid's equity value at about $1.4 billion. Trian and its backers already own 16.3% of Wendy's.
Your Food's shareholders include Metis, the holding company of Corrado Passera, former CEO of Intesa Sanpaolo and founder of illimity Bank; Milan-listed PIPE investor First Capital, which holds 30.2%; Venus, a vehicle of Stefano Core, former CEO of Balich Wonder Studio; and BGenera, owned by the Buglisi family, with 23.7%. BGenera also owns EdS Infrastrutture. In May 2026, Passera paid one million euros for a 20% stake, while Resca acquired 2.5%. Your Food also holds a licence to develop the Hard Rock Cafe brand in Sicily with local partners.
The Italian expansion comes as Wendy's discusses a take-private proposal. On 28 October, the company disclosed an unsolicited, non-binding cash acquisition proposal of $7.35 per share from Trian Fund Management, the firm of activist investor Nelson Peltz, together with Flynn Group, BlueFive Capital and Sixth Street Partners. Reuters reported the bid's equity value at about $1.4 billion. Trian and its backers already own 16.3% of Wendy's.
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