September 25, 2019 / 8:21 PM / 2 months ago

Inspire Brands to buy Jimmy John's to expand in United States

(Reuters) - Arby’s owner Inspire Brands said on Wednesday it will buy sandwich maker Jimmy John’s for an undisclosed amount as it looks to expand its multi-brand restaurant operations in the United States.

The deal, which is expected to close by October end, will make Inspire the fourth largest restaurant company in the United States with more than $14 billion in annual sales. It will have more than 11,200 restaurants across 16 countries.

Inspire Brands was formed last year by private equity firm Roark Capital as a holding company after Arby’s completed the acquisition of Buffalo Wild Wings. Later on, Inspire Brands bought drive-in burger chain Sonic Corp for about $1.57 billion.

Reporting by Shradha Singh in Bengaluru; Editing by Arun Koyyur

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