A Sonic restaurant in Houston, Texas Credit: Brett Hondow/Shutterstock.com.

Roark Capital is in the preliminary stages of considering an initial public offering (IPO) for Inspire Brands, the parent company of fast-food chains such as Dunkin’, Arby’s and Jimmy John’s, Bloomberg has reported.

The private equity firm has initiated discussions with potential advisers about a listing that could take place in late 2024 or 2025.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The valuation of Inspire Brands could be approximately $20bn. No definitive decisions regarding the pursuit of an IPO or its specifics have been made.

Representatives for Roark did not immediately respond when approached and a spokesperson for Inspire Brands declined to comment.

Established by Roark in 2018, Inspire Brands has grown to become the owner, operator and franchisor of a diverse portfolio of restaurant brands which includes Baskin-Robbins, Sonic Drive-In and Buffalo Wild Wings.

See Also:

In 2022, Inspire Brands executed an $11bn take-private acquisition of Dunkin’, one of the largest transactions in the restaurant industry to date.

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.

Roark, based in Atlanta, is a significant investor in the fast-food industry, managing assets across two primary groups: Inspire and Focus Brands. Focus Brands’ portfolio includes Auntie Anne’s, Cinnabon and Jamba.

In 2023, Roark announced its acquisition of the sandwich chain Subway for $9.6bn. It also holds a stake in The Cheesecake Factory.

Roark Capital outbid TDR Capital and Sycamore Partners, who reportedly made a final offer of $8.75bn with an earn-out.

In 2018, Inspire Brands closed the acquisition of American fast-food chain Sonic Drive-In for $2.3bn.