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Atlanta's Inspire Brands to acquire Sonic fast-food chain for $2.3 billion
2 monthes ago - By Biz Journals
Atlanta-based Inspire Brands Inc. is picking up another fast-food chain: Sonic Corp.
The restaurant group, which already owns Arby's, Buffalo Wild Wings and Rusty Taco, will pay approximately $2.3 billion for Sonic, a 65-year-old chain known for its drive-in format and customizable menu including burgers, hot dogs and a plethora of drinks.
The deal, expected to close later this year, includes more than 3,500 Sonic locations and 300 franchisees, representing $4.4 billion in system sales.
Sonic...
Read more ...Here's Why the Parent Company of Arby's Is Buying Sonic
2 monthes ago - By Fortune
The parent company of a fast food chain that goes out of its way to include hamburgers on the menu has bought the nation's fourth largest burger joint.
Inspire Brands, which owns Arby's and Buffalo Wild Wings, has bought Sonic in a $2.3 billion deal.
The cash deal, which will pay $43.50 for shares of Sonic, will see Sonic become a private company. Sonic boasted $4.4 billion in sales last year, according to Nation's Restaurant News , besting companies like Dairy Queen, Hardee's, and Five Guys. That figure is still less than half of Wendy's sales, though, and just 11% of McDonald's total...
Read more ...Arby's owner to buy drive-in chain Sonic for $1.57 billion
2 monthes ago - By Reuters
Arby's-owner Inspire Brands Inc said on Tuesday it would buy Sonic Corp for about $1.57 billion in cash, adding more than 3,600 drive-in restaurants to its portfolio that includes brands such as Buffalo Wild Wings and Rusty Taco.
Read more ...Arby's parent company is acquiring Sonic. Here's how the CEO says he picks which brands to buy
2 monthes ago - By Business Insider
Arby's parent company, Inspire Brands, is acquiring Buffalo Wild Wings in a $2.3 billion deal.
Inspire Brands CEO Paul Brown told Business Insider in an interview earlier this year that the company was looking to acquire brands in need of "repositioning."
Brown also said that a major focus is adding "distinct" brands with the potential to grow.
Inspire Brands, parent company of Arby's and Buffalo Wild Wings, is acquiring Sonic for $2.3 billion including debt.
Inspire Brands announced the deal on Tuesday. However, Sonic fits many of the qualifications that Inspire Brands CEO Paul Brown told...
Read more ...Arby's parent company is buying Sonic in a $2.3 billion deal
2 monthes ago - By Chron
Hollis Johnson/Business Insider
Arby's parent company, Inspire Brands, is acquiring burger chain Sonic for $2.3 billion including debt.
Inspire Brands was founded in February, following Arby's acquisition of Buffalo Wild Wings.
Sonic will continue to operate independently out of its Oklahoma City headquarters.
Arby's parent company, Inspire Brands, is acquiring burger chain Sonic.
On Tuesday, Inspire Brands announced that it is buying the burger brand for $2.3 billion including debt. At $43.50 per share, the acquisition will amount to $1.57 billion in cash. The deal represents a premium of...
Read more ...Arby's parent company is acquiring Sonic. Here's how the CEO says he picks which brands to buy
2 monthes ago - By Business Insider
Arby's parent company, Inspire Brands, is acquiring Buffalo Wild Wings in a $2.3 billion deal.
Inspire Brands CEO Paul Brown told Business Insider in an interview earlier this year that the company was looking to acquire brands in need of "repositioning."
Brown also said that a major focus is adding "distinct" brands with the potential to grow.
Inspire Brands, parent company of Arby's and Buffalo Wild Wings, is acquiring Sonic for $2.3 billion including debt.
Inspire Brands announced the deal on Tuesday. However, Sonic fits many of the qualifications that Inspire Brands CEO Paul Brown told...
Read more ...FactSet Earned $2.20 per Share
2 monthes ago - By Crossing Wall Street
FactSet ‘s earnings are out, and the company earned $2.20 per share for their fiscal fourth quarter.
Let's dig into the numbers a little bit. Organic revenue rose 5.3% to $347.1 million. Annual Subscription Value , which is a key stat for FDS, increased to $1.39 billion. Organic ASV growth was 5.7%. The company noted that the increase for Q4 was $38.6 million which is the highest in the company's history. Adjusted operating margin, another key stat, rose to 31.3% compared with 31.2% last year.
“We are proud to have reached many milestones in fiscal 2018. We celebrated 40 years as a company...
Read more ...Inspire Brands buys Sonic burger chain for $2.3 billion
2 monthes ago - By Chron
ATLANTA - Arby's owner Inspire Brands is buying the Sonic drive-in hamburger chain.
Inspire is paying $43.50 per share cash, or $2.3 billion, for Sonic, which has 3,600 restaurants in the U.S. Inspire expects the deal to close by the end of this year.
Sonic will operate as a separate business unit within Inspire and remain based in Oklahoma City. The first Sonic opened in Oklahoma in 1953.
Inspire says Sonic's management team will also remain in place.
Sonic earned $63.7 million in its 2017 fiscal year, which ended Aug. 31. That was down slightly from the previous two years.
Atlanta-based...
Read more ...Here's Why the Parent Company of Arby's Is Buying Sonic
2 monthes ago - By Fortune
The parent company of a fast food chain that goes out of its way to include hamburgers on the menu has bought the nation's fourth largest burger joint.
Inspire Brands, which owns Arby's and Buffalo Wild Wings, has bought Sonic in a $2.3 billion deal.
The cash deal, which will pay $43.50 for shares of Sonic, will see Sonic become a private company. Sonic boasted $4.4 billion in sales last year, according to Nation's Restaurant News , besting companies like Dairy Queen, Hardee's, and Five Guys. That figure is still less than half of Wendy's sales, though, and just 11% of McDonald's total...
Read more ...Arby's parent company is buying Sonic for $2.3 billion
2 monthes ago - By Business Insider
Arby's parent company, Inspire Brands, is acquiring burger chain Sonic for $2.3 billion.
Inspire Brand was founded in February 2018, following Arby's acquisition of Buffalo Wild Wings.
Sonic will continue to operate independently out of its Oklahoma City headquarters.
Arby's parent company, Inspire Brands, is acquiring burger chain Sonic.
On Tuesday, Inspire Brands announced that it is buying the burger brand for $2.3 billion, at $43.50 per share. The deal represents a premium of roughly 19% per share versus Sonic's closing stock price on Monday.
Sonic - known for its burgers, quirky menu...
Read more ...Arby's parent company is buying Sonic for $2.3 billion
2 monthes ago - By Business Insider
Arby's parent company, Inspire Brands, is acquiring burger chain Sonic for $2.3 billion.
Inspire Brand was founded in February 2018, following Arby's acquisition of Buffalo Wild Wings.
Sonic will continue to operate independently out of its Oklahoma City headquarters.
Arby's parent company, Inspire Brands, is acquiring burger chain Sonic.
On Tuesday, Inspire Brands announced that it is buying the burger brand for $2.3 billion, at $43.50 per share. The deal represents a premium of roughly 19% per share versus Sonic's closing stock price on Monday.
Sonic - known for its burgers, quirky menu...
Read more ...
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