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Want to Own a Munchkin's Share of Dunkin'? Parent Company Files for IPO
The owner of Arby’s, Dunkin’ and Buffalo Wild Wings seeks funds to repay debt and cover offering costs.
On Friday, Atlanta-based Inspire Brands confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission, initiating the process for a proposed initial public offering.
Founded in 2018 through a merger between Arby's and Buffalo Wild Wings, the company is backed by private equity firm Roark Capital and operates more than 33,300 restaurants worldwide.
Across its six chains, including Dunkin' and Sonic Drive-In, the company generates $33.4 billion in annual system-wide sales; Roark is reportedly seeking a valuation of roughly $20 billion.
While the market for initial public offerings has remained tepid, Inspire joins other restaurant companies like Jersey Mike's that have also confidentially filed with the Securities and Exchange Commission recently.
Proceeds from the offering are intended to repay outstanding indebtedness under the company's existing term loan facility, though the IPO remains subject to market conditions and SEC review.