Arby's former CEO is building a fast-food empire
- Arby's parent company, Inspire Brands, announced plans to acquire burger chain Sonic in a $2.3 billion deal on Tuesday.
- With the deal, Inspire Brands' portfolio - which also includes Buffalo Wild Wings and Rusty Taco - will comprise more than 8,000 locations with combined system sales exceeding $12 billion.
- Here's how the new restaurant empire is shaping up.
Arby's parent company Inspire Brands is creating a fast-food empire.
On Tuesday, Inspire Brands announced it is acquiring burger chain Sonic for $2.3 billion, including debt. The deal follows Inspire Brands - which is owned by private-equity firm Roark Capital - closing on a deal to acquire Buffalo Wild Wings and Rusty Taco earlier this year."We like brands that are great brands, that have gone through a period of great success, and may be in a temporary period with a little bit of a challenge, where there's an opportunity to come in and get it back on a path," Inspire CEO Paul Brown told Business Insider at the time.
Restaurant conglomerates like Inspire Brands, Restaurant Brands International (parent company of Tim Hortons, Burger King, and Popeyes), Yum Brands (parent of Pizza Hut, Taco Bell, and KFC), and JAB Holdings (owner of a range of brands including Krispy Kreme, Panera, and Pret A Manger) are on the rise.
With the deal, Inspire Brands' portfolio will comprise more than 8,000 locations with combined system sales exceeding $12 billion, according to figures provided by the company.
Here's how Arby's CEO has begun his quest to create a new restaurant empire.