Exterior view of an Arby's restaurant on October 26, 2017 in Lehi, Utah. (Photo by Chad Hurst/Getty Images for Arby's Restaurant Group, Inc.)
Photo: Chad Hurst
Photo: Chad Hurst

Arby’s to acquire Buffalo Wild Wings for more than $2 billion

Restaurant chain Arby’s will acquire Buffalo Wild Wings for more than $2 billion.

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Arby’s Restaurant Group, Inc. officials announced Tuesday that it will pay $157 per share for Buffalo Wild Wings, a transaction valued at approximately $2.9 billion -- including Buffalo Wild Wings’ debt. The transaction is expected to close during the first quarter of 2018.

“Buffalo Wild Wings is one of the most distinctive and successful entertainment and casual dining restaurant companies in America,” said Paul Brown, CEO of Arby’s Restaurant Group, Inc. “We are excited to welcome a brand with such a rich heritage, led by an exceptionally talented team. We look forward to leveraging the combined strengths of both organizations into a truly differentiated and transformative multi-brand restaurant company.”

Arby’s is majority owned by affiliates of Roark Capital Group, an Atlanta-based private equity firm. Arby’s has more than 3,300 restaurants in seven countries, and Buffalo Wild Wings currently has more than 1,250 locations in 10 countries.

>> Related: Arby’s expands sale of deer meat sandwich, tests elk meat

>> Related: Why is Buffalo Wild Wings nicknamed BW3s?

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