Arby’s parent company, Inspire Brands, has been on a deal-making spree for the last 20 months, but after closing its acquisition of Jimmy John’s, it could be slowing down.
Inspire Brands CEO Paul Brown said on CNBC’s “Squawk on the Street” on Monday that the company’s deals have allowed it to achieve scale, which was one of its first objectives.
“It allows us to be very selective about what we do next,” Brown said.
Inspire, backed by private equity firm Roark Capital Group, announced Friday that it had completed its acquisition of sandwich chain Jimmy John’s. Roark formed Inspire when it merged Arby’s and Buffalo Wild Wings in 2018. It announced the $2.3 billion acquisition of Sonic in September of that year as well.
The Jimmy John’s acquisition makes Inspire the fourth-largest restaurant company in the United States, with more than $14 billion in annual system sales and more than 11,200 restaurants, according to Inspire. Jimmy John’s reached $2.1 billion in sales last year.
Brown said the company is now just focused on being a private company and investing in its restaurant chains.
“We’re in no rush, which is the great thing about the situation,” Brown said.