We may earn commission from the links on this page. Sonic Corp. and Inspire Brands announced that they have entered into a definitive merger agreement for $2.3 billion. The company offers everything from hot dogs and cheese fries to ice cream, limeades and flavored slushes. Reuters reports Inspire Brands is owned by Roark Capital, which owns Cinnabon. The deal, which assumes all debt, is valued at $2.3 billion. All Rights Reserved. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. This content is created and maintained by a third party, and imported onto this page to help users provide their email addresses. A Division of NBCUniversal. BREAKING: We Just Launched a Brand-New Magazine! The deal is set to close by the end of this year. Fold LEGS into a box and glue tab A inside to form LEGS. ATLANTA, Georgia -- Arby's owner Inspire Brands is buying the Sonic drive-in hamburger chain. You may be able to find more information about this and similar content at piano.io, Chrissy Teigen Accidentally Insulted Katy Perry 😂, Target Will Give You $5 If You Get Vaccinated, Disney Is Offering Teacher Discounts On Rooms, See Every Starbucks Frappuccino Around The World, Amazon Prime Day Kitchen Deals You Need To Know. Cinnamon Toast Crunch Cereal Oatmeal Is Here. By MARK WILLIAMS
AP Business Writer. And there are even more food companies that now have ties to Sonic. The parent company will now operate 8,000 restaurants with sales over $12 billion, CNBC adds. Not mention, restaurants like Sonic are often run, in part, by franchisees. Arby's company is buying Sonic for $2.3 billion. Private equity players tend to like businesses that generate a lot of cash and require little investment. Sonic will still be independent as a brand, and Inspire said in their company announcement the quirks of the company, like its drive-in format and its offbeat products like pickle juice slushes and cookie jar shakes, made it an asset for them. Inspire’s portfolio includes more than 4,700 Arby’s, Buffalo Wild … Inspire Brands, which owns Arby's, Buffalo Wild Wings and Sonic, is buying Jimmy John's. Sonic and Arby’s are no longer competitors—they’re corporate siblings. Inspire Brands Buys Sonic at a Tasty Premium The owner of Arby's and Buffalo Wild Wings thinks the drive-in chain will be a good fit for its portfolio. Sonic and Arby’s are no longer competitors—they’re corporate siblings. “Sonic is a highly differentiated brand and is an ideal fit for the Inspire family,” Paul Brown, CEO of Inspire Brands, said in a press release. Sonic anticipates a 2.5 percent increase in traffic and a 2.6 percent bump in sales at restaurants open at least 12 months, as additions to its menu resonated with customers. This is aBurger King's "BK Quad Stacker" hamburger with four beef patties, topped with bacon, cheese, sauce, lettuce, pickles and … Sandwich chain Arby's is its alternative to standard burger and chicken chains, serving up nearly a dozen different proteins as it embraces its slogan "We have the meats." Inspire Brands, a company that owns Arby’s, Buffalo Wild Wings, and Rusty Taco, has acquired Sonic … Inspire Brands says they won’t change anything big about Sonic, which operates more than 3,600 locations. April 24, 2008, 3:55 PM Arby's Parent Acquires Sonic for $2.3 Billion. Inspire Brands announced Tuesday that it was buying the burger brand for $2.3 billion including debt. flickr: Mike Mozart. PRO TIP: Use only a very thin layer of white glue where indicated. Inspire Brands, a private equity backed firm that … 7 Organizations That Support The AAPI Community, Whipped Ricotta Toast With Lemony Snap Peas. Arby's parent company, Inspire Brands, is acquiring burger chain Sonic. Inspire is a multi-brand restaurant which includes more than 4,700 Arby’s, Buffalo Wild Wings, and Rusty Taco locations worldwide. The parent of Arby’s, Inspire Brands Inc., announced on Tuesday that it had agreed to acquire Sonic Corp. in a deal valued at about $2.3 billion, adding more than 3,600 locations of … Newly formed Inspire Brands struck another blockbuster restaurant deal, announcing Tuesday it entered into a definitive merger agreement to acquire Sonic Corp. for … Its first drive-in opened in 1959 in Stillwater, Oklahoma, and has since become America's largest drive-in chain. Arby’s parent company buys drive-in fast-food chain Sonic for $2.3B as it continues to fortify its walls with nostalgic fast-food brands. Fold crisply on all dotted lines. Arby's boasts that it has "the meats" and on Tuesday the owner of Arby's got a lot beefier by buying the hamburger drive-in chain Sonic. Arby's sandwich shops are known for slow roasted roast beef, turkey, and premium Angus beef sandwiches, sliced fresh every day. Sonic shareholders will receive $43.50 per share in cash, which is a 19 percent premium to Sonic's Monday close.The company's stock rose more than 18 percent Tuesday, hitting an all-time high of $44.87 per share. Dunkin' Brands is expected to join … Arby's buys Sonic burger chain for $2.3 billion Atlanta-based Inspire was formed earlier this year when Arby's acquired the Buffalo Wild Wings chain. Also, there is the potential for an investor to take the company public in the future since the recent round of deals in the industry has resulted in fewer publicly traded restaurants. Arby's, Buffalo Wild Wings, Sonic, and Rusty Taco are now under the same umbrella company. The deal, which assumes all debt, is valued at $2.3 billion. There also is likely to be room for cost-cutting, which is another thing private equity players look for in an investment. You may be able to find the same content in another format, or you may be able to find more information, at their web site. And Rusty Taco gives Inspire a foot in the Mexican food space. Sign up for free newsletters and get more CNBC delivered to your inbox. Delish editors handpick every product we feature. Buffalo Wild Wings is a casual dining restaurant and bar that draws in sports fans and families. "Sonic is a highly differentiated brand and is an ideal fit for the Inspire family," Paul Brown, CEO of Inspire Brands, said in a statement. ATLANTA, Ga. -- Arby's owner Inspire Brands is buying the Sonic drive-in hamburger chain. Arby's owner Inspire Brands Inc. is continuing its efforts to expand the company, announcing plans to buy Sonic Corp. in a deal worth about $2.3 billion. Arby’s owner Inspire Brands Inc. said it is buying burger chain Sonic Corp. for $2.3 billion including debt, part of its strategy to guard against … https://finance.yahoo.com/news/arbys-owner-buy-drive-chain-150101102.html B B B GETTING STARTED: Print on thick paper and cut pieces carefully. Inspire Brands, a company that owns Arby’s, Buffalo Wild Wings, and Rusty Taco, has acquired Sonic for $2.3 billion, CNN Money reports. Arby’s owner Inspire Brands announced it is buying carhop-style burger chain Sonic Corp. for $2.3B, including debt. The parent company of Arby’s and Buffalo Wild Wings will now own the Sonic burger chain. Sonic-Inspire Brands deal makes you stop and wonder if you want to sell stocks, says Jim Cramer. Well, Arby's owner is about to get beefier: It's buying hamburger joint Sonic for $2.3 billion. Inspire Brands, which owns Arby's and Buffalo Wild Wings, has bought Sonic in a $2.3 billion deal. Sonic, which has more than 3,500 restaurants and $4.4 billion in system sales, will be operated as its own separate business unit. Sonic originally opened as a root beer stand in 1953 in Shawnee, Oklahoma. Its most popular menu item is its cherry limeade. The company behind Arby's will buy drive-in burger chain Sonic in a deal announced Tuesday. We want to hear from you. Here’s hoping that means cinnamon bun milkshakes are in the company’s future. These owners are responsible for the day-to-day operations instead of the company. "In our opinion, the deal underscores that private equity players continue to have an interest in putting money to work in the restaurants sector following an active restaurants M&A environment throughout 2017-2018," said David Tarantino, an analyst at Baird. Arby’s parent company to buy Sonic. The company earlier this month said earnings and same-store sales in the current quarter would outpace expectations. Sonic's Parent Company Is Buying Jimmy John's, BWW's New Burger Is Stacked With Buffalo Chicken, Arby's Was Just Hit With A Massive Security Breach, 13 Things You Didn't Know About Sonic Drive-In. The parent company of Arby's and Buffalo Wild Wings is acquiring burger chain Sonic in a deal valued at $2.3 billion, the companies announced Tuesday. Sonic is unique in part because it is a drive-in restaurant, but it also has a diverse and quirky menu. The sandwich chain reached $2.1 billion in sales … This content is imported from Instagram. Sep. 25, 2018 Updated: Sep. 25, 2018 12:51 p.m. © 2021 CNBC LLC. The owner of Arby's Restaurant Group has said it will buy drive-in chain Sonic Corp in a $2.3 billion transaction, including debt. Get this delivered to your inbox, and more info about our products and services. In the past two years, Zoes Kitchen agreed to be bought by Cava Group in August, Jack in the Box sold Mexican chain Qdoba to Apollo Global Management in March and Panera Bread was acquired by JAB Holdings in July 2017. Dunkin’ Sells to Owner of Arby’s, Sonic, and Buffalo Wild Wings The coffee chain and Baskin-Robbins are to be acquired by Inspire Brands for $11.3 billion. The parent of Arby's, Inspire Brands Inc., announced on Tuesday that it had agreed to acquire Sonic Corp. in a deal valued at about $2.3 billion, adding more than 3,600 locations of … Inspire has wanted to build out its portfolio of restaurants. The company behind Arby's will buy drive-in burger chain Sonic in a deal announced Tuesday. What Is The Amazon Prime Day Whole Foods Deal? Inspire Brands on Tuesday said it has an agreement to buy the drive-in chain Sonic Corp. in a deal valued at $2.3 billion. Same-store sales for the chain have fallen for the last two years, but were set to rebound in the fiscal fourth quarter of this year. Sonic shareholders will receive $43.50 a share in cash. LEGS HOW TO BUILD: 1. The nation's third-largest hamburger chain was started by the late Dave Thomas. Data is a real-time snapshot *Data is delayed at least 15 minutes. Got a confidential news tip? “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.”. The parent company of Arby's and Buffalo Wild Wings will now own the Sonic burger chain. Sonic has more than 3,600 drive-ins nationwide. By: Molly M. Fleming The Journal Record September 25, 2018 1 Comment. The acquisition comes as Sonic has struggled against competition from bigger rivals like McDonald's and Burger King. Arby's now offers online ordering for our full menu of signature roast beef sandwiches, Market Fresh® options, and more. Inspire is known for its collection of niche restaurant brands. The owner of Arby’s and Buffalo Wild Wings has agreed to pay $43.50 per share for Sonic stock, giving the company its third major chain and fourth overall to go with upstart taco concept Rusty Taco. Arby’s Owner Buys Sonic For $2.3 Billion Arby’s parent company, Inspire Brands, announced Tuesday that it is acquiring burger chain Sonic in a deal worth $2.3 billion. Sold: Arby's Buys Wendy's for $2.34 Billion. Delish participates in various affiliate marketing programs, which means we may get paid commissions on editorially chosen products purchased through our links to retailer sites. Majority owned by private equity firm Roark, Inspire Brands was formed in February after Arby's acquired Buffalo Wild Wings. With the addition of Sonic, the company will operate more than 8,000 restaurants and have combined system sales in excess of $12 billion. Inspire Brands, parent company of Arby's and Sonic, to purchase Dunkin' Brands for $11.3 billion. Inspire, owner of Arby’s and Buffalo Wild Wings, appears to be eating up the competition after also taking over SONIC Drive-In and … The company behind Arby's will buy drive-in burger chain Sonic in a deal announced Tuesday. Restaurants often fit that criteria.
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