Wendy's/Arby's Group Inc , the No. 3 U.S. fast-food chain, said it was exploring strategic alternatives for its Arby's chain, and could possibly sell it.

The company said it was being helped by UBS Investment Bank in the process.

Despite Arby's positive momentum, the reality is that the Wendy's brand... is the key driver of shareholder return, and we believe we should focus on the execution of the compelling growth opportunities at Wendy's, Nelson Peltz, chairman of Wendy's/Arby's Group, said.

(Reporting by Nivedita Bhattacharjee in Bangalore; Editing by Anne Pallivathuckal)