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Inspire Brands announced on Tuesday that it has closed a deal with Sonic Corp. to acquire the franchise brand for $2.3 billion.

<a href="https://www.qsrmagazine.com/finance/arbys-parent-acquires-sonic-23-billion?utm_source=1851franchise.com&utm_medium=article&utm_campaign=inspire-brands-acquires-sonic-2707951" target="_blank" rel="nofollow" target="_blank">According to QSR Magazine</a>, the deal works out to $43.50 per share in cash, representing a premium of roughly 19 percent compared to the brand&rsquo;s closing stock price on Monday.&nbsp;

Inspire Brands, which was formed just this year to accommodate <a href="https://1851franchise.com/qsr-magazine-arby-s-to-buy-buffalo-wild-wings-in-2-9b-deal-2704901" target="_blank">Arby&rsquo;s $2.9 acquisition of Buffalo Wild Wings</a>, owns both&nbsp;those brands as well as fast-casual franchise Rusty Taco. Under the new ownership, Inspire Brands says Sonic will continue to operate as an independent brand with the same management team.&nbsp;

&ldquo;Sonic is a highly differentiated brand and is an ideal fit for the Inspire family,&rdquo; said Paul Brown, Chief Executive Officer of Inspire Brands, in a statement. &ldquo;We have tremendous respect for Sonic&rsquo;s exceptional team of employees and franchise owners, who have built one of the industry&rsquo;s most distinctive restaurant brands.&rdquo;

Read the <a href="https://www.qsrmagazine.com/finance/arbys-parent-acquires-sonic-23-billion?utm_source=1851franchise.com&utm_medium=article&utm_campaign=inspire-brands-acquires-sonic-2707951" target="_blank" rel="nofollow" target="_blank">full article at qsr.com</a>.

Inspire Brands Acquires Sonic

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The drive-in franchise will join Arby’s and Buffalo Wild Wings under the new holding company.

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Inspire Brands Acquires Sonic

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