Arby’s plans $2.21 billion in debt for purchase of Buffalo Wild Wings

By Sara Rosenberg

New York, Nov. 28 – Arby’s Restaurant Group, Inc. has received a commitment for $2.21 billion in debt financing to help fund its acquisition of Buffalo Wild Wings Inc., according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

Barclays is the lead bank on the deal.

Other funds for the transaction will come from up to $783 million in equity and cash on hand.

Under the agreement, Buffalo Wild Wings is being bought for $157.00 per share in cash, in a transaction valued at about $2.9 billion, including net debt.

Closing is expected in the first quarter of 2018, subject to the approval of Buffalo Wild Wings shareholders, regulatory approvals and other customary conditions.

Arby’s, a Roark Capital Group portfolio company, is an Atlanta-based quick-service restaurant chain. Buffalo Wild Wings is a Minneapolis-based owner, operator and franchisor of Buffalo Wild Wings restaurants.

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