Roark-backed Inspire Brands to buy Sonic for $2.3 bln

Inspire Brands Inc said Sept. 25 that it agreed to buy Sonic Corp for $43.50 a share or about $2.3 billion, including debt. Sonic owns more than 3,600 drive-ins. Inspire, which is majority owned by Roark Capital, has a portfolio that includes more than 4,700 Arby’s, Buffalo Wild Wings, and Rusty Taco locations. Guggenheim Securities LLC served as financial adviser to Sonic, while Shearman & Sterling LLP is serving legal counsel. White & Case LLP is legal counsel to Inspire.

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