Arby’s Parent Acquires Sonic For $2.3 Billion

Inspire Brands has struck another blockbuster restaurant deal, announcing it has entered into a definitive merger agreement to acquire Sonic Corp. and its 3,600 drive-in units for $2.3 billion.

“Sonic is a highly differentiated brand and is an ideal fit for the Inspire family,” said Paul Brown, CEO of Inspire Brands, in a statement. “We have tremendous respect for Sonic’s exceptional team of employees and franchise owners, who have built one of the industry’s most distinctive restaurant brands.”

Inspire Brands said Sonic will be run as a separate business unit within Inspire, and continue to be operated as an independent concept; it will remain based in Oklahoma City. Inspire Brands intends to keep Sonic's management team in place, it said.

Inspire Brands was formed in February after Arby’s Restaurant Group’s $2.9 billion purchase of Buffalo Wild Wings and its 1,200-plus units. Inspire’s current portfolio includes more than 4,700 Arby’s, Buffalo Wild Wings, and fast-casual Rusty Taco locations.