Who Owns Arby’s?
Inspire Brands, which Arby’s created. The roast beef chain did the buying, not the being bought, and one of the things it bought was Dunkin for 11.3 billion dollars.
Most people assume a mid-sized roast beef chain got absorbed by something bigger. It went the other way, repeatedly.
Arby’s did the acquiring
By the mid 2010s Arby’s had been through a long turnaround and was generating cash under Roark Capital’s ownership. Rather than sit still, it went shopping.
In February 2018 Arby’s Restaurant Group completed a merger with Buffalo Wild Wings, a chain with far more revenue per restaurant than Arby’s had. The combined company was renamed Inspire Brands on 5 February 2018, founded by Neal Aronson and Paul Brown, with Brown as chief executive.
From there the pace did not slow:
| Brand | Deal |
|---|---|
| Buffalo Wild Wings | Merged with Arby’s in February 2018 to create Inspire Brands |
| Sonic Drive-In | Announced September 2018, completed December 2018, about 2.3 billion dollars |
| Jimmy John’s | Announced September 2019, closed October 2019 |
| Dunkin’ Brands | Announced October 2020, completed December 2020, 11.3 billion dollars, including Baskin-Robbins |
Who is actually behind it
Roark Capital Group is the principal owner and financial backer. Roark is a private equity firm that specializes in franchised businesses, and its restaurant holdings extend beyond Inspire.
Notably, Roark also agreed to buy Subway in 2023, in a deal reported at around 9.55 billion dollars. Subway is held separately rather than inside Inspire Brands, but the same firm sits above both, which is covered in why Subway is closing so many stores.
Inspire is headquartered in Sandy Springs, Georgia, having moved there in 2019, and employs more than 650,000 people across its brands.
The six brands
Inspire currently runs Arby’s, Buffalo Wild Wings, Sonic Drive-In, Jimmy John’s, Dunkin’ and Baskin-Robbins. It also owned the small Rusty Taco chain, which it sold in December 2022.
Two of those are covered in detail on this site. Dunkin’s regional dominance is in why Dunkin is so popular in New England, and the Sonic menu has the current lineup for the drive-in chain.
The 2026 IPO filing
In May 2026 Inspire Brands confidentially filed with the Securities and Exchange Commission for an initial public offering, at a valuation reported at around 20 billion dollars.
If it goes ahead it would be one of the largest restaurant listings ever attempted. A confidential filing is not a commitment, and companies withdraw them regularly, so the sensible position is that it is being prepared rather than that it is happening.
What it signals is clearer. Private equity owners buy, improve and eventually exit, and a listing is the usual way out at this scale. Roark has held Arby’s for well over a decade, which is a long hold by the standards of the industry.
Does any of this reach the counter?
Indirectly. Group ownership tends to show up in shared supply chains, shared technology and shared loyalty infrastructure rather than in the food. It is also why you may notice the same delivery and app systems appearing across otherwise unrelated brands.
Individual Arby’s restaurants are mostly run by franchisees, which is why prices and hours vary. The current menu is on the Arby’s menu, and the origin of the name itself is in why is it called Arby’s.
Related Questions
Who owns Arby’s?
Inspire Brands, a multi-brand restaurant group backed by the private equity firm Roark Capital. Inspire was formed in February 2018 when Arby’s merged with Buffalo Wild Wings, so the group was built around Arby’s rather than Arby’s being absorbed into an existing one.
Did Arby’s really buy Dunkin?
Effectively yes, through Inspire Brands. Inspire was created from the Arby’s and Buffalo Wild Wings merger in 2018, and that company acquired Dunkin’ Brands, including Baskin-Robbins, in a deal announced in October 2020 and completed that December for 11.3 billion dollars.
What brands does Inspire Brands own?
Arby’s, Buffalo Wild Wings, Sonic Drive-In, Jimmy John’s, Dunkin’ and Baskin-Robbins. It also owned the small Rusty Taco chain until selling it in December 2022. The group operates more than 33,300 restaurants with around 33.4 billion dollars in annual sales.
Is Arby’s owned by the same company as Subway?
Not directly, but the same firm sits above both. Roark Capital is the principal backer of Inspire Brands, which owns Arby’s, and Roark separately agreed to buy Subway in 2023. Subway is held outside Inspire rather than as one of its brands.
Is Inspire Brands going public?
It filed confidentially with the SEC in May 2026 for an initial public offering, reported at a valuation of around 20 billion dollars. A confidential filing is preparation rather than a commitment, and such filings are withdrawn regularly, so it should not be treated as settled.
How many restaurants does Inspire Brands have?
More than 33,300 worldwide across its six brands, with around 33.4 billion dollars in annual sales and over 650,000 employees. That makes it one of the largest restaurant companies in the world by store count.
Is Arby’s a franchise?
Yes, and most locations are run by franchisees rather than by the parent company. That is why prices, opening hours and the availability of limited time items differ between restaurants, sometimes noticeably within the same city.
More on Arby’s
About this guide. USA Food Menu is an independent reference site and is not affiliated with Arby’s, Inspire Brands or Roark Capital. Deal values, restaurant counts and the IPO filing come from company announcements and published reporting and change over time. Current prices and calories are on the Arby’s menu.
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