When Wendy’s and McDonald’s come together for an ice cream franchise deal

A group of investors have bought into Wendy’s franchise ownership and its parent company McDonald’s.

The investors are from Wells Fargo and Wells Capital Management.

Wendy said in a statement Thursday that it was pleased to have a majority stake in a growing franchisee company that has a strong relationship with its loyal customers.

We are excited about the opportunity to partner with Wendy’s in building a new business, and we look forward to working with our team to build the next chapter of Wendy’s.WENDY’s stock was down 1.7 percent in after-hours trading Thursday, but it rose 2.4 percent in early afternoon trading.

McDonald’s shares fell 2.3 percent.

Wendingers stock was up 3.3 times in the second quarter and up 3 percent in the first three months of this year.

The group of 20 investors, including McDonald’s executives, bought 3.8 million shares at $31.30 each, according to the company.