Arby’s Restaurant Group announced on Tuesday it will acquire restaurant chain Buffalo Wild Wings, Inc. (BWLD) for about $2.9 billion.
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The $157 per share cash offer from private equity firm Roark Capital Group’s majority-owned Arby’s will include Buffalo Wild Wings’ net debt.
“We are confident that the strength of our two industry-leading brands, under the sponsorship of Roark Capital – an experienced restaurant and food service investor – will enable us to capitalize on significant growth opportunities in the years ahead,” Buffalo Wild Wings CEO Sally Smith said in a statement.
The deal is expected to close during the first quarter of 2018.