Doughnuts and ice cream go with chicken wings and roast beef sandwiches, right? Hopefully so, because Dunkin', which owns Baskin-Robbins, is about to get scooped up by Inspire Brands, the holding company that owns Arby's, Buffalo Wild Wings, Sonic, and other eateries, CNN Business reports. The $11.3 billion purchase (which includes debt) by Inspire, which is backed by private equity firm Roark Capital Group and boasts 11,000 of its own restaurants, will boost that footprint threefold, thanks to Dunkin's 20,000 or so doughnut and ice cream stores.
Inspire says its all-cash bid to take Dunkin' private would value it at $106.50 per share; that price came in at $99.71 per share by the time the market wrapped up on Friday. "We are excited to bring meaningful value to shareholders who ... believe that Inspire Brands ... will continue to drive growth for our franchisees while remaining true to all that is unique and special about the Dunkin' and Baskin-Robbins brands," says Dunkin' Brands CEO Dave Hoffmann, per Fox Business. The companies said on Friday the deal is set to close by year's end, per the Wall Street Journal, which first reported the news. (Read more Dunkin' Donuts stories.)