Cristina MutchlerThe owner of Arby's is shelling out $2.3 billion to buy Sonic Drive-In.
Parent company Inspire Brands' CEO said acquiring the unique brand is "an ideal fit" as it moves to diversify its group of restaurants that already includes Buffalo Wild Wings.
Sonic is known for its unique 1950s-style set up. It weighs in at the fourth-largest burger chain in the U.S., but saw a sales decline in 2017.
The acquisition may signal a changing climate for the casual dining industry. Some chains struggling to keep up with competition have opted to merge or sell out.
According to Inspire, Sonic will still be operated independently, so you might not notice any big changes at its more than 3,600 locations.
The deal brings the company to 8,000 restaurants with a combined $12 billion in system sales. The deal is expected to close by the end of the year.
Additional reporting from Newsy affiliate CNN.
