Suntory Holdings Ltd. will sell its shareholding in First-Kitchen Ltd., a wholly-owned subsidiary operating a hamburger chain, to Wendy’s Japan LLC, company officials said Monday.
The major maker of beverages and food did not disclose the price of the sale.
After selling First-Kitchen to rival hamburger chain Wendy’s, Suntory will focus its management resources on core businesses such as liquor and other beverage products.
First-Kitchen, founded by Suntory in 1977, operated 135 outlets mainly in the Tokyo metropolitan area and in western Japan as of the end of April. First-Kitchen racked up sales of ¥8.7 billion ($79 million) in 2015.
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