020633 Wendy's Completes Acquisition of Baja FreshJune 22, 2002Dublin, OH - Wendy's International, Inc. announced that it has completed the acquisition of Fresh Enterprises, Inc., the owner and operator of the Baja Fresh Mexican Grill. The Company announced on May 31 that it had entered into a definitive agreement to acquire Fresh Enterprises for $275 million, and that the transaction was expected to be completed in June. The transaction was financed with a combination of cash and the issuance of $225 million of 6.20% senior notes, due 2014. Company plans 2nd Quarter earnings disclosure The Company plans to release its second quarter financial results on July 25, 2002. A conference call and Internet web cast for investors is scheduled that same day at 4:00 p.m. Eastern time. Wendy's International, Inc. overview Wendy's International, Inc. is one of the world's largest restaurant operating and franchising companies, with $8.3 billion in 2001 systemwide sales, more than 8,300 total restaurants and quality brands - Wendy's, Tim Hortons and Baja Fresh. More information about the Company is available at www.wendys- invest.com . Wendy's Old Fashioned Hamburgers® was founded in 1969 by Dave Thomas and is the third largest quick-service hamburger restaurant chain in the world with 6,064 restaurants in the United States, Canada and international markets. More information about Wendy's is available at www.wendys.com . Tim Hortons® was founded in 1964 by Tim Horton and Ron Joyce and is the largest coffee and fresh baked goods restaurant chain in Canada. There are 2,048 Tim Hortons restaurants in Canada and 145 in the U.S. More information about Tim Hortons is available at www.timhortons.com .
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