Arby's has entered into a definitive agreement to acquire Buffalo Wild Wings in a transaction valued at approximately $2.9 billion.
The deal is expected to close during the first quarter of 2018, subject to customary closing conditions and the approval of Buffalo Wild Wings shareholders.
Majority owned by affiliates of Roark Capital Group, an Atlanta-based private equity firm, Arby’s Restaurant Group is the owner-operator and franchisor of more than 3,300 Arby’s restaurants in seven countries.
Upon completion of the transaction, Buffalo Wild Wings will become a privately-held subsidiary of Arby’s Restaurant Group Inc., and will be operated as an independent brand. Paul Brown, CEO of Arby’s Restaurant Group, will lead the parent company.
|Paul Brown, CEO of Arby's Restaurant Group|
Founded in 1982, Minneapolis-based Buffalo Wild Wings operates more than 1,250 restaurants in 10 countries, serving a variety of flavored Buffalo, New York-style chicken wings and other made-to-order menu items in a sports bar setting.
|Sally Smith, CEO of Buffalo Wild Wings|