Longreach swallows up Wendy’s Japan

The timing of the deal appears fortuitous after Japan's government said it would delay a sales tax and competitor McDonald's Japan flounders in the wake of food-safety scandals.

North-Asia buyout firm The Longreach Group said on Wednesday it had agreed to buy Wendy’s Japan, the same day that Japan delayed a sales tax hike which would have weighed on consumer spening in the world's third-largest economy. 

Using the capital received from Longreach, Wendy’s Japan will buy all of hamburger and pasta fast food chain First Kitchen, a wholly-owned subsidiary of beverages conglomerate Suntory Holdings.

The timing of the deal appears to be fortuitous.

Japan's prime minister Shinzo Abe told lawmakers he will delay a planned sales tax hike until 2019. Also one of Wendy's key competitors, McDonald's Japan is...

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