Arby’s – we have the…..
Arby’s has “the meats”… and now they’ve got “the Sonic” because the company just announced that they will be purchasing Sonic for $2.3 billion. Inspire Brands is a private equity-backed firm that owns Arby’s and Buffalo Wild Wings – and now they have Sonic by paying 20% over market value.
We all know Sonic… the company is famous for weird advertisements and a retro outdoor dining set up. The company also has been known to launch strange new menu items, such as pickle juice slushies (okay, maybe there’s a reason these guys are struggling). Sonic has been getting crushed by the likes of McDonald’s, Burger King, and Wendy’s and company sales have been declining.
But don’t worry Sonic-lovers… because nothing will change the establishment that you have grown to love. The restaurant chain, with over 3,600 locations, will continue to operate independently. This deal represents another major-merger in the fast-food industry as struggling companies look to remain competitive.