News broke today that private equity firm Roark Capital Group, who owns Arby’s and Cinnabon, has agreed to purchase Buffalo Wild Wings for $2.9 Billion, at $157 per share. Arby’s is owned by Roark Capital, which also has big stakes in Auntie Anne’s, Carvel and Jimmy John’s–the deal will take Buffalo Wild Wings private.
While news of the Arby’s owner buying Buffalo Wild Wings wasn’t really too crazy to many people–who knows what that will actually change for the brand on a consumer level–people are paying special attention to one aspect of the story…how does Arby’s have 2.9 Billion to spend???
Of course, the actually story is that Roark Capital Group, who own Arby’s, are the ones who have $2.9 Billion to dish out–but the jokes must be made nonetheless.
Wait, how does Arby's have $2,900,000,000 in cash to buy Buffalo Wild Wings? I have not eaten at Arby's in 30 years. Who does?