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Sonic Is Getting a Familiar New Owner

It will be under same umbrella as Arby's, Buffalo Wild Wings
By Evann Gastaldo,  Newser Staff
Posted Sep 25, 2018 12:27 PM CDT
In this Oct. 1, 2008, file photo a Sonic restaurant is pictured in Oklahoma City.   (AP Photo/Sue Ogrocki, File)

(Newser) – Inspire Brands, the private equity backed firm that owns Arby's, Buffalo Wild Wings, and Rusty Taco, has added another fast-food giant to its stable: Sonic, the retro-inspired hamburger drive-in chain. Faced with competition from McDonald's, Burger King, and the like, Sonic's sales have been suffering. Inspire bought it for $2.3 billion, almost 20% more than what its shares were trading at Monday, per CNNMoney. The firm says it plans to run Sonic, which has more than 3,600 locations, as an independent brand and that nothing major will change under the new ownership. The deal was announced Tuesday, and Sonic's shares rose more than 18%, per CNBC. Sonic is the nation's largest drive-in chain, Business Insider reports, and is known for quirky menu items including the pickle slushie. (Read more Arby's stories.)

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