Arby’s finalized its purchase of Buffalo Wild Wings in a deal worth $2.9 billion dollars this week, and the newly renamed Inspire Brands is already weighing other potential acquisitions to expand its reach.
“We believe there’s an opportunity to create a portfolio of brands that span all types of restaurant occasions,” CEO Paul Brown told Cheddar.
The Arby’s/Buffalo Wild Wings deal showcases Inspire Brands’ strategy of bringing fast-casual chains and fast-food chains under one roof.
One thing Brown is looking for: a well-established brand with a dedicated following.
“We like brands that have distinct places in the marketplace,” he said, noting that both Arby’s and Buffalo Wild Wings fulfill a unique space in the restaurant industry.
Brown became CEO of Arby’s in 2013, overseeing a big transformation within the company. The company reported record sales in 2016 under Brown’s leadership. Investors hope he can have the same effect on Buffalo Wild Wings, which has faced a slowdown in recent years.
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