Arby's owner to acquire Buffalo Wild Wings for $2.4B

30 November 2017, 12:24 | Andres Norman

Arby's to buy Buffalo Wild Wings in $2.9B deal

Arby's Is Buying Buffalo Wild Wings For More Than $2.4 Billion

Arby's said on Tuesday that it reached a new deal to buy Buffalo Wild Wings for $2.4 billion in cash, according to USA Today.

Arby's bought Buffalo Wild Wings in a transaction that's valued at $2.9 billion. Goldman Sachs Group Inc. provided financial advice to Buffalo Wild Wings, while Minneapolis-based Faegre Baker Daniels LLP was its legal counsel.

Roark-owned Arby's Restaurant Group Inc. will operate the approximately 1,200 Buffalo Wild Wings locations as an independent subsidiary. There are now more than 1,250 Buffalo Wild Wings locations in 10 countries.

The deal still needs the approval of Buffalo Wild Wings shareholders, but is expected to close during the first few months of next year.

Arby's is majority owned by affiliates of Roark Capital Group, an Atlanta based private equity firm that focuses on investing in franchised and multi-unit businesses in the restaurant, retail, and other consumer sectors.

Android phones still track you when location services are off
Even devices that have gone through a factory reset were found to be transmitting private data back to the company. Google claims it is being sent to the same system that manages push notifications and the messages in Android.

Zakiur Rehman Lakhvi's Son Killed With Four Other Militants In Hajin Encounter
In October, two IAF Garud commandos were killed in an encounter that also left two terrorists including a local recruit dead. Defence spokesman Col Rajesh Kalia said six militants, including LeT commander Mahmood Bhai, were killed in the gunfight.

Paine, Marsh, Bancroft in Australia's Ashes squad
Their fast bowling will be led by Mitchell Starc, Josh Hazlewood, Jackson Bird and Pat Cummins. THE shock selection of Tim Paine for the Gabba Test has filled English hearts with optimism.

"We are excited to welcome a brand with such a rich heritage, led by an exceptionally talented team", Brown told Business Insider.

The agreement has been unanimously approved by both companies' boards of directors. The rebound at Arby's has come as diners turn away from so-called casual dining chains like Buffalo Wild Wings, where customers typically sit down and are served by waiters.

Buffalo Wild Wings' stock climbed 6.5% in premarket trading. "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". Overall sales rose by 0.5 percent to $473 million while revenue also increased 0.5 percent to $496.7 million.

"The last three years there have been a disaster - there's a lot of low-hanging fruit", he said.



Other News

Trending Now

Telecom regulator backs net neutrality
Experts suggest that the CDN exemption could strengthen the position of integrated operators which also provide content. The new regulations go a step further and recommend prohibiting any service provider from throttling data speeds.

English Premier League Report: Watford v Manchester United 28 November 2017
United have an important run of fixtures in the next two weeks with a Premier League showdown at Arsenal coming Saturday. Romelu Lukaku could make his 200th Premier League appearance in this match - he now has 93 goals.

Germany swings European Union vote in favour of weed-killer glyphosate
After a drawn-out process, the European Union backed the extension with a qualified majority. MEPs discussed the "Monsanto Papers" at a public European Parliament hearing last month.

Former 'Glee' actress Naya Rivera charged with domestic battery
Rivera's bond was set at $1,000, and she was released and picked up from the courthouse by her father-in-law. We're getting sexual offenders, racist, and even domestic violence out of the paint.

Trump declares North Korea a state sponsor of terror
The official added that the country "clearly fit the criteria for a state sponsor of terror in a previous administration". Trump said Monday that the designation will impose further penalties on the country.

Ohio Dems Condemn Gov. Candidate for Boasting of Sexual Escapades
O'Neill told The Associated Press that the post grew out of frustration over Democrats' calls to remove Al Franken from the U.S. As a judge, O'Neill is barred by the Ohio Code of Judicial Conduct from running from political office.

Truck's Trump f-bomb catches Fort Bend County sheriff's attention
KTRK reports Nehls said during a news conference that he had no regrets about the Facebook post . Others said they didn't want their children forced to see profanity on the road.

Russian Federation and U.S. at odds over keeping Syria chemical experts
It would mark the tenth time that Moscow has used its veto power at the council to block action targeting its ally Syria. The Russian draft, by contrast, requests the JIM to visit Khan Sheikhoun and re-evaluate its findings.

Arsenal aim to end six-game winless Premier League run vs
They enter Saturday in danger of doing that for the first time this year, having also lost at Old Trafford on October 28. I think Tottenham is a good side but we have the quality to win this game and that is what we want to show ".

Steve Bannon will continue to support Roy Moore
Hannity played footage of Moore saying the accusation was "absolutely false" and that he didn't even know the woman. Alabama Republican Party officials convened by phone late Wednesday to discuss the path forward for Moore.