Inspire Brands has announced that it has entered into an agreement to acquire Jimmy John’s Sandwiches. The agreement was unanimously approved by the Jimmy John’s Board of Directors, including Founder and Chairman Jimmy John Liautaud. The financial terms of the transaction were not disclosed.
Inspire is a multi-brand restaurant company whose portfolio includes more than 8,300 Arby’s, Buffalo Wild Wings, Sonic Drive-In and Rusty Taco locations worldwide.Following the completion of the transaction, Inspire will be the fourth-largest restaurant company in the United States with more than $14 billion in annual system sales and more than 11,200 restaurants across 16 countries.
“Jimmy John’s has found the ideal home at Inspire,” Liautaud said. “Inspire’s long-term approach, culture of innovation and commitment to helping brands grow sets it apart from the rest. I couldn’t be prouder of the company we’ve built, and I can’t wait to see what Jimmy John’s is able to accomplish under Inspire’s leadership.”
“Jimmy John’s is a great fit for the Inspire family,” said Paul Brown, Co-Founder and Chief Executive Officer of Inspire Brands. “What started in 1983 as a sandwich shop in a converted garage in Charleston, Illinois, has grown into a national, differentiated brand with a passionate fanbase. We are excited to welcome the Jimmy John’s brand to Inspire and look forward to working with their team and franchisees to help the company achieve its next stage of growth.”
At the close of the transaction, which is expected by the end of October, James North will serve as President of the Jimmy John’s brand, reporting to Paul Brown, and Jimmy John Liautaud will step down as Chairman and transition to an advisor to the brand.