Arby’s Restaurant Group is planning to acquire Buffalo Wild Wings for a price of about $2.9 billion, including Buffalo Wild Wings’ debt.
The two companies announced the planned acquisition on November 28. The boards of directors for both restaurant companies unanimously approved the plan.
Under the agreement, Arby’s will pay $157 per share for Buffalo Wild Wings, which is listed as BWLD on the Nasdaq exchange.
“Buffalo Wild Wings is one of the most distinctive and successful entertainment and casual dining restaurant companies in America,” Arby’s CEO Paul Brown said in a press release. “We are excited to welcome a brand with such a rich heritage, led by an exceptionally talented team. We look forward to leveraging the combined strengths of both organizations into a truly differentiated and transformative multi-brand restaurant company.”
Details of the transaction
The transaction is not subject to a financing condition and is expected to close during the first quarter of 2018, subject to approval of Buffalo Wild Wings shareholders and the satisfaction of customary closing conditions, including applicable regulatory approvals.
Following the close of the transaction, Buffalo Wild Wings will become a privately-held subsidiary of Arby’s Restaurant Group, and will continue to be operated as an independent brand.
Brown will serve as CEO of the parent company.
Arby’s is majority owned by affiliates of
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