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One of Buffalo Wild Wings' largest franchisees is being acquired by a private equity firm in a deal valued at $130 million.
Diversified Restaurant Holdings has 64 Buffalo Wild Wings units spread across five states. The all-cash deal has been structured as a merger with private equity firm ICV Partners and is expected to be completed no later than early next year.
"This transaction validates the strength of our franchise, creates a strong future for our employees, and provides a significant platform from which ICV can continue to build, while also rewarding our stockholders for their commitment," said Michael Ansley, founder of DRH, executive chairman and acting CEO.
Buffalo Wild Wings is a part of Inspire Brands, the parent of Arby's, Sonic, and Jimmy John's.