Inspire Brands has made no secret that it wanted to add a burger brand to its growing portfolio since its acquisition of Buffalo Wild Wings last fall, and the parent company of Arby’s now has the beef in addition to the meats. Yesterday, the company announced that it will acquire the 3,600-unit Sonic Corp. for $2.3 billion. The $43.50 price per share offer represents a 20% premium on Sonic’s share price before the deal was announced.
The deal is expected to close by the end of the year, at which time, Inspire Brands will position itself squarely among the 10 largest restaurant companies in the US. Inspire will boast 8,300+ units across the Arby’s, Buffalo Wild Wings, Rusty Taco and Sonic brands with annual systemwide sales north of $12 billion, according to CSG’s Restaurant Franchisee Premier Database. Post-acquisition, leadership at Sonic is expected to stay in place, and the company will maintain a headquarters in Oklahoma City.
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The National Restaurant Association Show 2020 has been canceled due to the Coronavirus Crisis. This has displaced over 2,300 exhibitors,https://www.chainstoreguide.com.
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Restaurants are headed into uncharted territory. The Coronavirus has left much of the world in a holding pattern and thehttps://www.chainstoreguide.com.
March 13, 2020
Personnel Updates • Doctor’s Associates Inc. (100) has hired Mike Kappitt in the newly created role of COO and hehttps://www.chainstoreguide.com.
