In this file:
· Wendy’s Secretly Launched a Meaty Vegan Burger
· Wendy's in $100M accelerated buyback pact
· Wendy's to pay Morgan Stanley $100 million in share repurchase agreement
Wendy’s Secretly Launched a Meaty Vegan Burger
Wendy's restaurants in Canada have secretly launched a burger with a vegan meat patty. The new meat-free option is called the Plantiful Burger.
Jemima Webber, Live Kindly
November 8, 2019
Wendy’s restaurants in Canada have secretly launched a burger with a vegan meat patty.
Wendy’s hasn’t publicly announced the burger and the dish is not yet on the fast-food chain’s website. But images of the new Plantiful Burger cropped up on outdoor advertisements in Toronto. The sign showed a meaty burger alongside the words: “Where’s the beef? Not here.”
The “100 percent plant-based” patty is made with pea protein. Wendy’s staff told Compassion Over Killing — a non-profit animal protection organization — that the burger contains egg. It’s not clear whether the egg is in the mayonnaise, which could be removed on request, or in the bun of the burger.
The low-key launch shortly follows comments made by Wendy’s CEO Todd Penegor earlier this year. During the company’s 2019 second-quarter earnings call, Penegor was asked about the company’s interest in plant-based protein.
“Clearly there is growth out there in plant-based proteins and we believe that it is a trend that will be here to stay,” the CEO said, adding that Wendy’s is “taking a hard look at what the options would be for us at the restaurant.”
In August, a petition was created that encouraged Wendy’s to “join 2019” and launch a vegan burger. The petition amassed nearly 30,000 signatures.
“A plant-based burger would not only be better for animal welfare, the environment, and health, but also great for business at Wendy’s,” the petition reads. “Beyond Meat recently went public with investments and raised nearly a quarter of a billion dollars while also soaring 163% from their original IPO (the biggest increase for a US company since 2000).”
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Wendy's in $100M accelerated buyback pact
About: The Wendy's Company (WEN)
By: Clark Schultz, Seeking Alpha
Nov. 8, 2019
· Wendy's (WEN +1.8%) says it entered into a $100M accelerated share buyback agreement with Morgan Stanley...
· The buyback agreement...
Wendy's to pay Morgan Stanley $100 million in share repurchase agreement
By Tonya Garcia, MarketWatch
Nov 8, 2019
Wendy's Co. announced in an 8-K filing that it has entered into an accelerated share repurchase program with Morgan Stanley such that the fast-food company will pay $100 million in cash for 4.05 million shares.
The total number of shares will be determined by the average price during the term of the agreement.
Wendy's stock is up 34.4% for the year to date while the S&P 500 index SPX, -0.07% is up 23% for the period.