Sports bar chain Buffalo Wild Wings has a new owner… it’s Arby’s.
According to reports, Arby’s Restaurant Group announced this week that it will buy Buffalo Wild Wings as part of a merger valued at $2.9 billion, which includes debt.
“We are excited to welcome a brand with such a rich heritage, led by an exceptionally talented team,” Arby’s CEO Paul Brown said in a statement. “We look forward to leveraging the combined strengths of both organizations into a truly differentiated and transformative multi-brand restaurant company.”
While the deal has been approved, it is not expected to close until early 2018.
After the deal is finalized, Buffalo Wild Wings will become a subsidiary of Arby’s, but will continue to operate as an independent brand.
Buffalo Wild Wings was founded in 1982, with the first location opening in Columbus, Ohio. Today, it has more than 2,250 locations around the world and generates nearly $2 billion in revenue every year, according to the Minneapolis-St. Paul Business Journal.
Arby’s has more than 3,300 restaurants and sales of more than $3.5 billion. It owned by Roark Capital Group, which also owns Jimmy John’s and Culver’s.