Buffalo Wild Wings Sold To Arby's
Arby's announced November 28 that it would acquire the Minneapolis-based chain for $157 per share. The merger values Buffalo Wild Wings at $2.9 billion, including the company’s debt.
Arby’s is owned by Roark Capital Group, which in addition to investing in 62 franchised or multi-unit brands, boasts an ownership portfolio including Jimmy John’s and CKE Restaurants, Corner Bakery, FOCUS Brands (Auntie Anne’s Pretzels, Carvel Ice Cream, Cinnabon, McAlister’s Deli, Moe’s Southwest Grill, and Schlotzsky’s), Il Fornaio, Miller’s Ale House, and Naf Naf Grille. Its brands have $27 billion in annual revenue and more than 29,000 locations.
The merger is expected to close in the first quarter of next year. Arby’s CEO Paul Brown will be CEO of the parent company to both restaurant chains. “We look forward to leveraging the combined strengths of both organizations into a truly differentiated and transformative multi-brand restaurant company,” Brown said in a statement.
Buffalo Wild Wings has more than 1,250 locations, split between company and franchised locations. Arby’s operates more than 3,300 locations.