Wendy's Heads To Brazil Through Joint Venture

Wendy's Co. said Monday that it will enter the Brazil market through a joint venture with affiliates of Sao Paolo-based Infinity Services and Starboard, one of Wendy's largest U.S. franchisees and a subsidiary of the fast-food company. Starboard operates 182 restaurants across nine states. Wendy's Brazil will open its first two restaurants in Sao Paolo in July. Wendy's shares are down 0.3% in premarket trading, and down nearly 15% for the past year. The S&P 500 is down 3.1% for the past 12 months.