Sonic is now part of the Roark Capital portfolio of restaurant companies with Inspire Brands finalizing its acquisition of the $2.3B deal for the quick-service drive-in chain. Inspire Brands is led by Paul Brown and Sonic will be led by Claudia San Pedro, serving as Sonic president, announced post-acquisition agreement. Cliff Hudson will be a senior advisor to Sonic until next March for transition purchases.
The ink was still drying on the acquisition of Jamba Juice by Focus Brands, a wholly-owned Roark Capital subsidiary, when Inspire Brands, another Roark subsidiary, announced its agreement to acquire Sonic in a transaction valued at $2.3B. Inspire Brands is the parent of restaurant chains Arby’s, Buffalo Wild Wings and Rusty “R” Taco.