Arby's Buying Buffalo Wild Wings

Get ready for a side of chicken wings with your roast beef sandwich. Atlanta-based Arby's has bought Buffalo Wild Wings, the companies announced on Tuesday. The companies have entered into a merger in which Arby's Restaurant Group will acquire Minneapolis-based Buffalo Wild Wings, Inc. for about $2.9 million, the release said. The agreement was unanimously approved by both companies' boards of directors.

"Buffalo Wild Wings is one of the most distinctive and successful entertainment and casual dining restaurant companies in America," said Paul Brown, CEO of Arby's Restaurant Group, Inc. "We are excited to welcome a brand with such a rich heritage, led by an exceptionally talented team."

Both brands will remain distinct under the merger, Brown said.

There are nearly 20 Buffalo Wild Wings locations in Central Indiana, and at least 50 Arby's locations.

"We are excited about this merger and confident Arby's represents an excellent partner for Buffalo Wild Wings," said Sally Smith, CEO of Buffalo Wild Wings. "We are confident that the strength of our two industry-leading brands ... will enable us to capitalize on significant growth opportunities in the years ahead."

The transaction is expected to close during the first quarter of next year. Once it closes, Buffalo Wild Wings will be a privately-held subsidiary of Arby's Restaurant Group and will continue to be operated as an independent brand, according to the release.

Arby's is majority owned by affiliates of Roark Capital Group, an Atlanta based private equity firm.

Arby's Restaurant Group, Inc. is the parent company, owner-operator, and franchiser of the Arby's brand. Arby's, founded in 1964, is the second-largest sandwich restaurant brand in the world with more than 3,300 restaurants in seven countries.

Buffalo Wild Wings, Inc., was founded in 1982 and is headquartered in Minneapolis. Known for its Buffalo, New York-style chicken wings, the chain currently has more than 1,250 Buffalo Wild Wings locations in 10 countries.

Watch Now: Arby's Buys Buffalo Wild Wings

Photo courtesy Arby's Restaurant Group, Inc.

Patch editor Doug Gross contributed to this piece.