Nelson Peltz — billionaire investor and father-in-law to Brooklyn Beckham — has made a $1.4 billion offer to buy Wendy’s.
Peltz’s Train Fund Management and several partners made the offer in a regulatory filing on Wednesday, October 28, per CNBC. The other investment firms involved include BlueFive Capital and Sixth Street Partners, as well as one of Wendy’s franchisees, Flynn Group.
The group offered $7.35 per share in cash — a premium of nearly 19 percent over Tuesday’s closing price — in a deal that would take the company private.
Wendy’s shares jumped 15 percent after the offer.
According to a report from the AP, citing findings from market research group Technomic, the fast food chain — which was founded in 1969 — has fallen behind its competitors in recent years. Their share of sales in the burger chain market fell from 11.5 percent in 2019 to 10.4 percent in 2025.
Richard B. Levine/Newscom/The Mega Agency
Inflation has also hurt fast food chains across the board, as increased labor and food costs have led to price increases that budget-conscious consumers can’t keep up with. Per AP, the company closed 240 restaurants in 2024 and announced they planned to shut down another 358 in 2026.
Peltz — whose actress daughter Nicola Peltz married Beckham in 2022 — said going private “will deliver the best outcome for the broader stakeholder base” in a letter to the company’s board of directors.
“Wendy’s sits at a critical juncture,” Peltz added. “The external environment has become increasingly challenging given the significant pressures on the U.S. consumer, economic uncertainty, persistent commodity inflation and intensifying competition, particularly within the QSR (quick service restaurant) burger category.”
The offer comes months after Bob Wright, former CEO of Potbelly, became Wendy’s CEO in May.
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