Arby's Purchases Buffalo Wild Wings for $2.4 Billion
SAN ANGELO, TX-- The same company that left their San Angelo building in 2013 could be making a comeback in the Concho Valley.
No, the abandoned 2,400 square foot property on Knickerbocker will not be reoccupied by Arby's. Instead, on Tuesday, Arby's Restaurant Group acquired the Sports Bar chain Buffalo Wild Wings for $2.4 billion.
This deal comes after Buffalo Wild Wings took a hit as the cost of chicken rose, according to the investment bank UBS, and the US populous started to eat more meals at home.
Does that mean the local Buffalo Wild Wings will start serving Reuben sandwiches? Possibly, but don't expect sweeping changes to take place at the well-known sports bar.
"We are excited to welcome a brand with such rich heritage, led by an exceptionally talented team," Arby's CEO Paul Brown said in a statement. "We look forward to leveraging the combined strengths of both organizations into a truly differentiated and transformative multi-brand restaurant company.”
The move also means Arby's will assume the debt of Buffalo Wild Wings.