Deal made for purchase of Jimmy John’s brand

Jimmy John’s Sandwiches, which has grown to more than 2,800 shops since its founding in Charleston, Ill., 36 years ago, is getting sold to the owner of Arby’s, Buffalo Wild Wings, Sonic Drive-In and Rusty Taco.

Financial terms of the deal with Atlanta-based Inspire Brands, announced early Wednesday, were not disclosed.

After the transaction closes, Jimmy John Liautaud will step down as chairman to the eponymous Champaign, Ill.-based chain and become an adviser to the brand. James North, Jimmy John’s president, will serve as president of the Jimmy John’s brand at Inspire Brands.

“I couldn’t be prouder of the company we’ve built, and I can’t wait to see what Jimmy John’s is able to accomplish under Inspire’s leadership,” Liautaud said in a news release.

In 1983, Liautaud borrowed $25,000 from his father to open his first sandwich shop in Charleston after getting out of high school. He enrolled in Eastern Illinois University but dropped out before finishing the first semester to focus on the business.

In its first year, the store rang up $155,000 in sales and netted a $40,000 profit. Liautaud bought out his father’s 48 percent stake in the business by the third year.