News

$2.3 billion Sonic buy complete, Inspire now 5th largest US restaurant company

December 7, 2018

Inspire Brands Inc. has completed its $2.3 billion acquisition of Sonic Corp., a news release said. With the acquisition of Sonic, Inspire now encompasses more than 8,300 restaurants and generates annual systemwide sales in excess of $12 billion, making it the fifth-largest restaurant company in the United States. 

Inspire's portfolio now includes Sonic, Arby's, Buffalo Wild Wings and Rusty Taco.

"Sonic and its franchisees have created one of the most successful and distinctive brands in the restaurant industry," Inspire Brands CEO Paul Brown said in the release. "We look forward to helping further drive innovation and long-term growth at Sonic and across our growing family of brands."

Claudia San Pedro will lead the Sonic brand as President. As of today, Cliff Hudson, former Chairman and Chief Executive Officer of Sonic, will serve as a Senior Advisor to Sonic until March 2019 to help ensure a smooth transition.

"This is an important and exciting milestone for Sonic," San Pedro said in the release. "Inspire's commitment to strategic investments and culture of collaboration will significantly benefit our guests, team members, and franchisees. As part of the Inspire family of brands, Sonic is positioned for growth and to continue our 65-year track record of success."