Arrow-right Camera
The Spokesman-Review Newspaper

The Spokesman-Review Newspaper The Spokesman-Review

Spokane, Washington  Est. May 19, 1883
Partly Cloudy Night 27° Partly Cloudy
News >  Business

Inspire Brands buys Sonic burger chain for $2.3 billion

This March 9, 2015, file photo shows a sign for a Sonic Drive-In in Holmes, Pa. (Matt Rourke / Associated Press)
This March 9, 2015, file photo shows a sign for a Sonic Drive-In in Holmes, Pa. (Matt Rourke / Associated Press)
Associated Press

ATLANTA – Arby’s owner Inspire Brands is buying the Sonic drive-in hamburger chain.

Inspire is paying $43.50 per share cash, or $2.3 billion, for Sonic, which has 3,600 restaurants in the U.S. Inspire expects the deal to close by the end of this year.

Sonic will operate as a separate business unit within Inspire and remain based in Oklahoma City. The first Sonic opened in Oklahoma in 1953.

Inspire says Sonic’s management team will also remain in place.

Sonic earned $63.7 million in its 2017 fiscal year, which ended Aug. 31. That was down slightly from the previous two years.

Atlanta-based Inspire was formed earlier this year when Arby’s acquired the Buffalo Wild Wings chain.

Inspire said Tuesday owning multiple chains will help it share resources, including customer loyalty data and suppliers.

The Spokesman-Review Newspaper

Local journalism is essential.

Give directly to The Spokesman-Review's Northwest Passages community forums series -- which helps to offset the costs of several reporter and editor positions at the newspaper -- by using the easy options below. Gifts processed in this system are not tax deductible, but are predominately used to help meet the local financial requirements needed to receive national matching-grant funds.

Active Person

Subscribe to the Coronavirus newsletter

Get the day’s latest Coronavirus news delivered to your inbox by subscribing to our newsletter.