Inspire Brands

What does Inspire Brands own?
Inspire Brands owns six restaurant brands: Arby's, Dunkin', Baskin-Robbins, Buffalo Wild Wings, Sonic Drive-In, and Jimmy John's. The company operates over 33,000 restaurants across these brands, making it the second-largest restaurant company in the United States by system-wide sales.

Is Inspire Brands publicly traded?
No, Inspire Brands is not publicly traded. The company is privately held and owned by Roark Capital Group, an Atlanta-based private equity firm. Roark Capital manages approximately $38 billion in assets and specializes in consumer brands and franchise businesses.

Who founded Inspire Brands?
Inspire Brands was founded in 2018 by Roark Capital Group, which merged Arby's Restaurant Group with Buffalo Wild Wings to create the company. Paul Brown, who had been CEO of Arby's, became CEO of the new combined entity.

Where is Inspire Brands headquartered?
Inspire Brands is headquartered in Atlanta, Georgia, USA. The company's corporate offices are in Atlanta, though individual brands maintain their own operational headquarters in different cities across the United States.

How many brands does Inspire Brands own?
Inspire Brands owns six restaurant brands: Arby's, Dunkin', Baskin-Robbins, Buffalo Wild Wings, Sonic Drive-In, and Jimmy John's.

Who owns Inspire Brands?
Inspire Brands is owned by Roark Capital Group, a private equity firm based in Atlanta, Georgia. The Wendy's Company previously held a minority stake but sold its remaining shares in 2023 for approximately $450 million.

What is Inspire Brands' revenue?
Inspire Brands reported approximately $32.6 billion in system-wide sales in 2024. This figure represents total sales at all 33,000+ restaurant locations, not company revenue. The company's actual revenue from franchise fees and royalties is not publicly disclosed because it is privately held.

Does Inspire Brands own Wendy's?
No, Inspire Brands does not own Wendy's. The Wendy's Company previously held a minority stake in Inspire Brands (initially 18.5%, later reduced to 12.3%), but sold its remaining shares in 2023. Wendy's operates as an independent publicly traded company (NASDAQ: WEN).

Is Inspire Brands buying Subway?
Roark Capital, Inspire Brands' parent company, announced an agreement to acquire Subway for approximately $9.5 billion in August 2023. As of 2026, the deal had not been completed due to Federal Trade Commission regulatory review for potential antitrust concerns.

Inspire Brands was created in February 2018 when Roark Capital Group merged Arby's Restaurant Group with Buffalo Wild Wings. Roark Capital, an Atlanta-based private equity firm specializing in consumer and franchise businesses, had previously acquired both companies. The merger created a multi-brand restaurant platform with the stated goal of building a portfolio of complementary brands that could benefit from shared services and operational expertise.

Arby's, the founding brand, was acquired by Roark Capital in 2011 for approximately $130 million. At the time, Arby's was struggling with declining sales and an outdated brand image. Under Roark Capital's ownership and Paul Brown's leadership, Arby's underwent a turnaround, with same-store sales increasing for 16 consecutive quarters by 2018.

Buffalo Wild Wings was acquired by Roark Capital in February 2018 for approximately $2.9 billion, after a contested sale process. The acquisition added a casual dining sports bar concept to the portfolio, diversifying beyond quick-service restaurants.

In September 2018, Inspire Brands acquired Sonic Drive-In for approximately $2.3 billion. Sonic, a drive-in restaurant chain primarily located in the southern United States, added a strong regional brand with over 3,600 locations. The acquisition expanded Inspire Brands' geographic footprint and added a drive-in format to the portfolio.

In October 2019, Inspire Brands acquired Jimmy John's for an undisclosed amount. Jimmy John's, a sandwich chain focused on delivery and takeout, brought approximately 2,800 locations and a strong lunch daypart presence. The acquisition added a sandwich concept to complement Arby's roast beef focus.

The largest acquisition came in December 2020, when Inspire Brands completed the acquisition of Dunkin' Brands for approximately $11.3 billion, including assumed debt. This deal brought Dunkin' (approximately 12,900 locations) and Baskin-Robbins (approximately 8,000 locations) into the portfolio. The Dunkin' Brands acquisition was one of the largest restaurant deals in history and transformed Inspire Brands into the second-largest restaurant company in the United States by system-wide sales.

In 2023, Roark Capital attempted to expand its restaurant holdings further by acquiring Subway for approximately $9.5 billion. The deal was announced in August 2023 but faced regulatory scrutiny from the Federal Trade Commission. As of 2026, the Subway acquisition had not been completed, and Subway remained independent.

In 2025, Inspire Brands continued to focus on digital transformation and technology integration across its brands. The company invested in loyalty programs, mobile ordering, and AI-powered drive-thru technology. Dunkin' launched a new loyalty program integration and expanded its digital ordering capabilities.

Inspire Brands has established sustainability initiatives across its brands, focusing on sustainable sourcing, waste reduction, and community engagement. The company does not publish a comprehensive sustainability report and is not a Certified B Corporation.

Individual brands within the portfolio have their own sustainability programs. Dunkin' has committed to sourcing sustainable coffee and has transitioned to using paper straws. Arby's has focused on animal welfare standards in its meat supply chain. Buffalo Wild Wings has implemented recycling and waste reduction programs.

The company's franchise-based model means that sustainability implementation varies significantly across locations, as individual franchisees make many operational decisions. This creates challenges in enforcing consistent sustainability standards across 33,000+ restaurants.

• Inspire Brands has been recognized as one of the largest restaurant companies in the United States by system-wide sales, ranking second behind McDonald's.
• Paul Brown has been recognized in restaurant industry publications for his leadership in building a multi-brand restaurant platform.
• Individual brands within the portfolio have received industry awards for menu innovation, marketing campaigns, and franchisee satisfaction.

Roark Capital's attempted acquisition of Subway for $9.5 billion has faced significant regulatory scrutiny. The Federal Trade Commission has reviewed the deal for potential antitrust concerns, given Roark Capital's existing restaurant portfolio through Inspire Brands. Critics have argued that combining Subway with Inspire Brands' existing brands would give Roark Capital excessive market power in the sandwich and quick-service restaurant segments. As of 2026, the deal had not been completed.

The franchise-based business model has also drawn scrutiny. Franchise advocacy groups have raised concerns about the power imbalance between large franchisors like Inspire Brands and individual franchise operators. Issues include franchise fee structures, mandatory supplier requirements, and the degree of control that franchisors exercise over franchisee operations.

During the COVID-19 pandemic in 2020, Inspire Brands received approximately $150 million in Paycheck Protection Program (PPP) loans, which were later forgiven. The company faced criticism for accepting PPP funds given its private equity backing and the financial resources of Roark Capital.

Buffalo Wild Wings has faced labor-related controversies, including lawsuits over tip-sharing practices and wage violations. The brand has also faced criticism for its handling of sports bar safety incidents.