Buffalo Wild Wings acquired by Arby’s Restaurant Group

UNITED STATES Hospitality & Leisure / Hospitality / Restaurants / Chains EV $1–10bn

Context

Arby's Restaurant Group completed the acquisition of Buffalo Wild Wings and simultaneously launched Inspire Brands as a new multi-brand restaurant platform. Following closing, Buffalo Wild Wings continued to operate as an independent brand within the Inspire structure, with its management team remaining in place to support continuity and execution. The strategic rationale was to create a diversified restaurant company with scale across multiple occasions and channels, rather than relying on a single concept. Buffalo Wild Wings added a strong casual dining and sports bar brand to Arby's sandwich-led portfolio, giving Inspire exposure to a different customer segment, a more social dining format, and a brand with national awareness and meaningful growth potential. The deal also allowed the combined group to leverage shared expertise in franchising, marketing, digital capabilities, and procurement, while preserving the operating identity of each brand. At the time of launch, Inspire oversaw more than 4,600 company-owned and franchised restaurants across 14 countries, with combined 2017 global system sales above $7.6 billion.

Buffalo Wild Wings, which reported an EBITDA margin of [members only] in 2017, is valued in this transaction at an EV/EBITDA multiple of 10x–18x.

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Target

Buffalo Wild Wings, Inc. is a U.S.-based casual dining and sports bar chain founded in 1982 and headquartered in Minneapolis, Minnesota, United States. The company specializes in chicken wings, sauces, burgers, sandwiches, appetizers, and beer, serving guests in a sports-driven, high-energy environment built around live game viewing and social dining. Its core proposition combines made-to-order food with a bar-and-grill experience, and it has become one of the most recognizable wing brands in the U.S. restaurant market. Buffalo Wild Wings operated a large domestic system with both company-owned and franchised locations and generated meaningful national brand awareness through its sports marketing and game-day traffic. The chain’s business model relied on a mix of restaurant sales, franchise royalties, and advertising contributions, with a strong emphasis on guest experience and repeat visits.

Ent. Value

$1–10bn

Equity Value

[members only]

Multiples

EV / Revenue

[members only]

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (USD)

Year

Rev

EBITDA

EBIT

2017

2016

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REFERENCES

Valuation range: EV $1–10bn

EBITDA range: $250–500M

EV/EBITDA range: 10x - 18x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Buffalo Wild Wings by Arby’s Restaurant Group are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: buffalo wild wings

FAQ

What transaction does this page cover?

This page covers Arby’s Restaurant Group’s acquisition of 100% of Buffalo Wild Wings, an American company specialised in Hospitality, in 2018.

How was the acquisition of Buffalo Wild Wings by Arby’s Restaurant Group valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the $1–10bn band and its EV/EBITDA multiple within the 10x - 18x range. Exact figures are available to members.

What was Buffalo Wild Wings’s EBITDA at the time of the deal?

At the time of the transaction, Buffalo Wild Wings’s EBITDA was estimated within the $250–500M bracket (FY 2017). Detailed financial figures are available to members.

What sources support the information on this transaction?

Transaction intelligence is supported by independent reporting from specialized financial publications, alongside a private document shared by the community and verified by the mynth team to ensure the accuracy of the shared information.

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