Inspire Brands, the parent of Arby’s, Buffalo Wild Wings and SONIC Drive-In, has reached an agreement to acquire Jimmy John’s Sandwiches.
The transaction, for which financial terms were not disclosed, makes Inspire the the fourth-largest restaurant company in the United States with more than $14 billion in annual system sales and more than 11,200 restaurants across 16 countries.
Jimmy John Liautaud, the founder and chairman of the sandwich chain said: “Jimmy John’s has found the ideal home at Inspire.
“Inspire’s long-term approach, culture of innovation and commitment to helping brands grow sets it apart from the rest.
“I couldn’t be prouder of the company we’ve built, and I can’t wait to see what Jimmy John’s is able to accomplish under Inspire’s leadership.”
Its co-founder and CEO, Paul Brown, said: “Jimmy John’s is a great fit for the Inspire family.
“What started in 1983 as a sandwich shop in a converted garage in Charleston, Illinois, has grown into a national, differentiated brand with a passionate fanbase.
“We are excited to welcome the Jimmy John’s brand to Inspire and look forward to working with their team and franchisees to help the company achieve its next stage of growth.”
At the close of the transaction, which is expected by the end of October, James North will serve as president of the Jimmy John’s brand, reporting to Brown, while Liautaud will step down as chairman and become an advisor to the brand.