Arby’s closes deal for Buffalo Wild Wings, makes new company

FILE - This March 1, 2010, file photo shows an Arby's restaurant sign in Cutler Bay, Fla. Arby's is buying casual dining chain Buffalo Wild Wings in a deal worth about $2.4 billion. Arby's Restaurant Group Inc. said Tuesday, Nov. 28, 2017, that it will pay $157 per share. (AP Photo/Wilfredo Lee, File)

NEW YORK (AP) — Arby’s has completed its deal to buy Buffalo Wild Wings and created a new company named Inspire Brands that will run the chains.

Inspire Brands will oversee Arby’s, Buffalo Wild Wings and a small chain with about 30 locations called R Taco. Arby’s, known for its meaty sandwiches, has more than 3,400 restaurants; Buffalo Wild Wings has 1,200.

Arby’s had announced in November that it would pay $2.4 billion for Buffalo Wild Wings in a deal that would take the chicken wing chain private. When debt is included, the companies value the deal at $2.9 billion.

The buyout completed Monday is the latest that takes fast-casual restaurants private. Sit-down chain Ruby Tuesday, for example, was bought by private equity firm NRD Capital last year.