Arby's Parent Company to Acquire Sonic Fast Food Chain
Posted on September 28, 2018
Inspire Brands is acquiring Sonic Corp. in a $2.3 billion deal. Sonic Corp. is the parent company of the Sonic Drive-In fast food restaurant chain. Inspire Brands runs Arby's, Buffalo Wild Wings and Rusty Taco locations.
CNN/Money reports that the deal is a 20% premium over Sonic's trading prices before the announcement. Sonic is a large fast food chain with over 3,600 locations. It will remain an independent brand post merger.
Paul Brown, Chief Executive Officer of Inspire Brands, says in a statement, "Sonic is a highly differentiated brand and is an ideal fit for the Inspire family. 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."
Sonic Drive-In restaurant menu offerings include burgers, hot dogs, chicken sandwiches, onion rings, tots, french fries and more. They also have a breakfast menu, large drink menu and frozen desserts that include shakes, sundaes and Sonic blasts.
The Oklhahoman reports that the headquarters for Sonic will remain in Bricktown.