(WYTV) – Arby’s Restaurant Group, Inc. plans to buy the Buffalo Wild Wings chain, according to a news release from Buffalo Wild Wings, Inc.
The company announced Tuesday that the chains have entered into a definitive merger agreement in a transaction valued at approximately $2.9 billion.
The agreement has been unanimously approved by both companies’ Boards of Directors.
“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.”
The transaction is expected to close during the first quarter of 2018, and Buffalo Wild Wings will continue to operate as an independent brand.
Arby’s has a local connection.
The first store was opened in Boardman in 1964. The name comes from the first owners — the Raffel Brothers, or R.B.’s. — Forrest and Leroy Raffel, of New Castle.
Arby’s Restaurant Group, Inc. is now owned by Roark Capital Group, which is headquartered in Atlanta, Ga.