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US: Arby’s is buying Buffalo Wild Wings for US$2.9b

By  |  November 28, 2017

Arby’s is buying Buffalo Wild Wings, the chain of sports bars, for US$2.9 billion. The deal will take Buffalo Wild Wings private. Arby’s is owned by Roark Capital, which also has big stakes in Auntie Anne’s, Carvel and Jimmy John’s. Currently, fast food chain Wendy’s owns about 18.5% of Arby’s, with their stake valued at around US$325.9 million, as of the third quarter this year.
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That stake could change depending “on how much equity is issued as part of the [Buffalo Wild Wings] deal and whether or not the company participates in that issuance,” said Stifel analyst Chris O’Cull.

“At this point, Wendy’s is evaluating the deal and preserving flexibility,” O’Cull said in an updated research note Tuesday, November 28.

Buffalo Wild Wings, known as B-Dubs to its fans, was facing pressure from activist investors who support the deal.

Full Content: Wall Street Journal

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