Private Equity Firm Longreach Said to Mull Wendy’s Japan Sale

Asian private equity firm Longreach Group is considering selling its majority stake in the hamburger chain Wendy’s First Kitchen in Japan, people familiar with the matter said.

Longreach has hired a financial adviser and is seeking potential buyers, the people said, asking not to be identified as the discussions are private. The PE firm bought Wendy’s Japan shares in 2016, also taking control of Wendy’s unit First Kitchen.

A Wendy’s First Kitchen outlet in Tokyo.

Photographer: Takako Taniguchi/Bloomberg

Japan’s hamburger chain market is expanding thanks to Burger King’s aggressive store opening strategy and limited price increases that have kept consumers in an inflationary economy. The nation’s fast-food market ...