Oct. 31 (UPI) -- Inspire Brands has announced it will acquire Dunkin' Brands in a $11.3 billion deal.
Dunkin' Brands, the parent company of Dunkin' and Baskin-Robbins, will join other fast-food restaurants under Inspire's portfolio, including Arby's, Buffalo Wild Wings, Sonic Drive-In, Rusty Taco and Jimmy John's, according to the deal announced Friday.
Under the deal, Inspire said it will acquire Dunkin Brands for $106.50 per share in cash in a transaction valued at approximately $11.3 billion, which includes the assumption of Dunkin' Brands debt.
"Dunkin' and Baskin-Robbins are category leaders with more than 70 years of rich heritage, and together they are two of the most iconic restaurant brands in the world," said Paul Brown, co-founder and CEO of Inspire Brands. "By joining Inspire, these brands will add complementary guest experiences and occasions to our current portfolio."
Inspire Brands, which is a private holding company, owner and franchisor formed in 2017, owned by Roark Capital, grew to the fourth-largest restaurant chain after acquiring Jimmy John's last year.
Inspire employs more than 325,000 people directly and via franchises across more than 11,000 restaurants, The New York Times reported.