US-based investment firm ICV Partners has completed a $130m acquisition of Buffalo Wild Wings (BWW) franchisee Diversified Restaurant Holdings (DRH) in the US.

The deal was first announced in November last year.

According to the agreement, ICV acquired DRH in an all-cash transaction and will also assume DRH’s outstanding debt and transaction balances.

The deal includes the restaurant group’s portfolio of 64 Buffalo Wild Wings stores across five states.

Additionally, BWW franchisee JK&T has signed a 15-store area development agreement to build new stores in agreed-upon locations.

In October 2019, ICV Partners had made an investment in JK&T Wings in partnership with the management.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

During the time of investment, JK&T Wings was the owner of 42 BWW restaurants in Michigan with additional locations in Massachusetts and Louisiana in the US.

Founded in 1982, Buffalo Wild Wings is a US-based sports bar brand and has more than 1,200 restaurants in ten countries worldwide.

Inspire Brands, which also owns Arby’s, Sonic and Jimmy John’s, acquired the brand in February 2018.

ICV will combine the remaining DRH and JK&T Wings sports bars to become the largest Buffalo Wild Wings franchisee with more than 80 sports bars across five states.

ICV managing director Ira Moreland said: “We are very pleased to complete this transaction and are enthusiastic to deploy our expertise to help grow the Buffalo Wild Wings brand.

“DRH is a strong platform and the company has solidified its position in a number of important markets.

“In combination with our earlier investment in JK&T Wings, we now operate over 80 BWW restaurants across five states and look forward to working with the company’s management team to further build this strong platform in new geographies.”