Buffalo Wild Wings is being sold for $2.9 billion deal to Roark Capital the owner of Arby’s and other fast food chains, according to the Star Tribune.
Under the proposed deal, Buffalo Wild Wings would operate as an independent subsidiary of Arby’s Restaurant Group.
Roark Capital, the Atlanta-based investment firm and was launched in 2001, now has a stake in 21 food and restaurant chains. Its brands include Jimmy John’s, Cinnabon, Carvel Ice Cream, Hardee’s, Culver’s and Arby’s.
"Buffalo Wild Wings is one of the most distinctive and successful entertainment and casual dining restaurant companies in America," Paul Brown, CEO of Arby's Restaurant Group, Inc., said in a press release. "We are excited to welcome a brand with such a rich heritage, led by an exceptionally talented team. We look forward to leveraging the combined strengths of both organizations into a truly differentiated and transformative multi-brand restaurant company."
With the merger, Buffalo Wild Wings is banking on a turnaround not unlike the one executed by Roark following its purchase of the Arby's brand back in 2011.
"We are excited about this merger and confident Arby's represents an excellent partner for Buffalo Wild Wings," Buffalo Wild Wings CEO Sally Smith said. "We are confident that the strength of our two industry-leading brands, under the sponsorship of Roark Capital - an experienced restaurant and food service investor - will enable us to capitalize on significant growth opportunities in the years ahead."
There are 1,250 Buffalo Wild Wings locations across the world.