Arby's, Buffalo Wild Wings to merge

buffalo wild wings

Roark Capital has agreed to acquire Buffalo Wild Wings for $2.9 billion and merge it into Arby’s Restaurant Group, forming a two-chain operation headed by Arby’s chief Paul Brown.

The deal has already been approved by the boards of Arby’s and BWW, and the financing is already in place, Arby’s said this morning in announcing the deal. The statement noted that Marcato Capital Management, which had used its 6.4% stake in BWW to push for changes in the full-service chain’s management and strategic direction, had agreed to support the deal.

The deal also gives Wendy’s, a sister brand to Arby’s when both were owned by Nelson Peltz’s Triarc Cos., an indirect stake in BWW. Wendy’s owns 18.5% of Arby’s.

Roark accepted offer amounts to a payment of $157 a share, a 38% premium over the average trading price for BWW shares for the preceding month.

BWW CEO Sally Smith is expected to resign after the deal is consummated. She had announced on the day of BWW’s shareholder meeting, where Marcato sought to gain a foothold on the board, that she would step down by the first of the year.

Brown, who will become CEO of the two-concept group, had already relinquished some of his day-to-day responsibilities for Arby’s in August with the promotion of Rob Lynch to president, from CMO.

Brown was Restaurant Business’2017 Restaurant Leader of the Year.

Members help make our journalism possible. Become a Restaurant Business member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.


Exclusive Content


Trend or fad? These restaurant currents could go either way

Reality Check: A number of ripples were evident in the business during the first half of the year. The question is, do they have staying power?


Starbucks' value offer is a bad idea

The Bottom Line: It’s not entirely clear that price is the reason Starbucks is losing traffic. If it isn’t, the company’s new value offer could backfire.


Struggling I Heart Mac and Cheese franchisees push back against their franchisor

Operators say most of them aren't making money and want a break on their royalties. But they also complain about receiving expired cheese from closed stores. "Don't send us moldy product."


More from our partners