(BUSINESS WIRE) Inspire Brands, Inc. today announced the completion of its $2.3 billion acquisition of Sonic Corp. Inspire Brands is a multi-brand restaurant company whose portfolio includes Arby’s, Buffalo Wild Wings and Rusty Taco locations worldwide.
With the acquisition of Sonic, Inspire now encompasses more than 8,300 restaurants and generates annual systemwide sales in excess of $12 billion, making it the fifth-largest restaurant company in the United States. “We are thrilled to officially welcome Sonic to the Inspire family,” said Paul Brown, Chief Executive Officer of Inspire Brands. “Sonic and its franchisees have created one of the most successful and distinctive brands in the restaurant industry. We look forward to helping further drive innovation and long-term growth at Sonic and across our growing family of brands.”
As recently announced, Claudia San Pedro will lead the Sonic brand as President. As of today, Cliff Hudson, former Chairman and Chief Executive Officer of Sonic, will serve as a Senior Advisor to Sonic until March 2019 to help ensure a smooth transition.
Inspire Brands is headquartered in Atlanta, Georgia and majority-owned by affiliates of Roark. Roark has invested in 66 franchise/multi-unit brands, which collectively generate $37 billion in annual system revenues from 36,000 locations in 50 states and 81 countries.