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Arby's and Buffalo Wild Wings owner buying Dunkin' Brands

Arby's and Buffalo Wild Wings owner buying Dunkin' Brands
Posted at 1:07 PM, Nov 03, 2020
and last updated 2020-11-04 01:26:11-05

NEW YORK (AP) — Dunkin' doughnuts and coffee is being combined with Buffalo Wild Wings and Arby's sandwiches.

Inspire Brands Inc. said Friday that it is acquiring Dunkin' Brands Group Inc. for $11.3 billion, including the Dunkin' Brands' debt that Inspire will be taking on.

The private-equity firm will pay $106.50 in cash for all of Dunkin' Brands' shares, which closed Friday at $99.71.

Dunkin' Brands' stock surged to an all-time high earlier this week after the company confirmed the two were in merger talks.

Dunkin', based in Canton, Massachusetts, also owns the Baskin-Robbins ice cream chain.

"Dunkin' and Baskin-Robbins are category leaders with more than 70 years of rich heritage, and together they are two of the most iconic restaurant brands in the world," Paul Brown, Co-founder and Chief Executive Officer of Inspire Brands, said in the news release.

There are 12,500 Dunkin' stores and 8,000 Baskin-Robbins outlets worldwide.

Inspire will operate Dunkin' and Baskin-Robbins as distinct brands, the company stated.

According to the New York Times, this is the largest restaurant acquisition in more than a decade.