Parent Company of Arby's and Buffalo Wild Wings to Buy Sonic for $2.3 Billion

Last November, Roark Capital, which owns Arby’s® Restaurants Group and has significant stakes in Auntie Anne's, Carvel and Jimmy John's, expanded its empire by announcing that it would be acquiring Buffalo Wild Wings for $2.9 million.

Learn more about how the firm purchased Buffalo Wild Wings just in time for the Super Bowl in the video below.

This year, this company has announced yet another large deal.

Roark will also be acquiring the burger fast food chain Sonic for $2.3 billion.

Sonic, which originally opened as a root beer stand back in 1953, has more than 3,600 stores across the U.S, over 3,000 of which are franchised.

"Sonic shareholders will receive $43.50 per share in cash, which is a 19 percent premium to Sonic's Monday close.The company's stock rose more than 18 percent Tuesday, hitting an all-time high of $44.87 per share," writes "CNBC."

Sonic Drive-in Exterior shot

Sonic, like most staple fast food chains, has struggled to compete in the saturated food market in the last few years. Same-store sales have declined over the last year, but the company did say on an earnings call this month, that the brand expects a 2.5 percent lift in traffic and a 2.6 percent spike in sales at stores that have been open for at least a year.

Roark which formed Inspire Brands in February sees potential in the drive-in restaurant known for its diverse menu, carhops on roller skates, and comedic commercials often set in cars.

"Sonic is a highly differentiated brand and is an ideal fit for the Inspire family," said Paul Brown, CEO of Inspire Brands in a statement.“We have tremendous respect for Sonic’s exceptional team of employees and franchise owners, who have built one of the industry’s most distinctive restaurant brands.”

With this acquisition, the private equity firm Roark will have over 8,000 restaurants in its portfolio with a combined sales of more than $12 billion.

Read more about Arby's parent company buying Sonic at "CNBC."