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Buffalo Wild Wings sold to owner of Arby’s

By Wire services
Published: November 28, 2017, 3:47pm

MINNEAPOLIS — Buffalo Wild Wings, the Golden Valley, Minn.-based casual restaurant chain that for much of the last decade was one of the nation’s fastest-growing, is being purchased by an Atlanta investment firm that owns fast-food brands Arby’s and Jimmy John’s.

The $2.9 billion deal was announced Tuesday morning. Under the terms of the transaction, affiliates of Roark Capital Group will pay $157 a share for Buffalo Wild Wings. Buffalo Wild Wings shares jumped around 6 percent to $156 in early trading Tuesday.

Roark-owned Arby’s Restaurant Group Inc. will operate the approximately 1,200 Buffalo Wild Wings locations as an independent subsidiary.

Roark Capital has over the past decade purchased some of the nation’s largest and best-known restaurant chains. Its portfolio includes controlling stakes in Arby’s, Auntie Anne’s, Carl’s Jr., Cinnabon, Hardees, Jimmy John’s, Naf Naf Grill, Schlotzsky’s and Wingstop. It owns a minority stake in Wisconsin-based Culver’s.Arby’s CEO, Paul Brown, added, “Buffalo Wild Wings is one of the most distinctive and successful entertainment and casual dining restaurant companies in America. We are excited to welcome a brand with such a rich heritage.”

Arby’s, founded in 1964, is the second-largest sandwich restaurant brand in the world with more than 3,300 restaurants in seven countries.

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