CTW, LLC Is Acquired By MUY Hamburger Partners, LLC
HOUSTON, TEXAS (January 15, 2013) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that CTW, LLC (Central Texas Wendy’s – “CTW”) of Waco, TX has been acquired by MUY Hamburger Partners, LLC, an affiliate of MUY Brands, LLC (“MUY”) located in San Antonio, TX. The transaction was completed on December 21, 2012.
Founded in 1997, CTW owns and operates 18 Wendy’s franchise locations throughout the Central Texas region. The Company was privately held by several individuals. CTW has a geographical focus on the I-35 corridor which experiences heavy road traffic between the major metropolitan areas of Austin, Dallas, and San Antonio. Key markets CTW serves include Waco, Temple, Killeen (Ft. Hood Army Base), Copperas Cove, Marble Falls, Cleburne, and Burelson, TX. CTW’s business has benefited from a strong combination of factors including well positioned stores in growing markets with strong population demographics and sound regional economies. Additionally, Wendy’s overall has experienced meaningful brand momentum driven by thoughtful strategic improvements at the corporate level including menu innovation, increased national advertising, and selective reimaging.
The Wendy’s Company (NASDAQ: WEN) is the world’s third largest quick-service hamburger company. The Wendy’s system includes more than 6,500 franchise and Company restaurants in the U.S. and in 27 other countries and U.S. territories.
MUY was founded by Jim and Cathy Bodenstedt in 2003 when the company originally acquired 18 existing Taco Bell and KFC restaurants in West Texas and Corpus Christi. Today, MUY is the 14th largest private franchise restaurant company in the U.S. with over 9,000 employees. The Company’s current holdings include Pizza Hut, Taco Bell, and Wing Street stores.
Statesman served as the exclusive financial advisor to CTW, LLC. The Statesman transaction team included Principal Will Jaco and Associate Karla Bayer. Gregory Chanon of McGinnis, Lochridge & Kilgore, LLP located in Austin, TX served as legal counsel for CTW, LLC.
Statesman Corporate Finance is a leading middle market investment bank headquartered in Houston, Texas. Statesman provides merger and acquisition sell-side and buy-side advisory services and general corporate financial advisory services to small and middle-market companies.