Ice cream Wendy's sold to Singapore

Icecream and cake treat franchise Wendy's has been sold for A$10 million ($11.2 million) to a Singapore company looking to expand the chain into Asia.

Global Food Retail Group, a subsidiary of Singapore listed company Global Yellow Pages, acquired the rights for the Wendy's Supa Sundaes brand from Wendy's Supa Sundaes and Innovation Ice Cream.

Global Food chief executive Stanley Tan said the group would look to grow the brand in Asia, especially China.

The company had been looking for investments in brands and franchise systems which it could make global, he said.