Inspire Brands, Owner of Dunkin', Arby's and Buffalo Wild Wings, Confidentially Files for IPO

Inspire Brands confidentially filed for an initial public offering, the company announced on Friday. The restaurant company owns Dunkin', Arby's, Buffalo Wild Wings, Baskin-Robbins, Sonic Drive-In and Jimmy John's. 4 billion in annual sales, according to its website.

Inspire Brands is based in Atlanta. Inspire Brands was founded in 2018 through a merger between Arby's and Buffalo Wild Wings. It was formed that same year by private equity firm Roark Capital as a holding company.

Roark Capital backs Inspire Brands and is reportedly seeking a valuation of roughly $20 billion for the company. Acquisitions followed the founding. Inspire Brands acquired Sonic Drive-In later in 2018.

It acquired Jimmy John's in 2019. In 2020, Inspire Brands acquired Dunkin' and Baskin-Robbins in a deal valued at $11 billion. 3 billion deal that year. Inspire Brands plans to use the IPO proceeds to repay debt and for other purposes.

The number of shares to be offered and the price range for the proposed offering have not yet been determined. Confidential filings with the US securities regulator let companies prepare for IPOs away from public market scrutiny.

Inspire Brands isn't the only restaurant company pursuing an IPO. Jersey Mike’s confidentially filed with the Securities and Exchange Commission last month. Fashion retailer Tailored Brands has confidentially filed for a New York IPO.

Several other companies have gone public in New York this year. Once Upon a Farm, Bob’s Discount Furniture, Yesway, and Suja Life have gone public in New York this year. The consumer IPO market has picked up steam after a tepid 2025.

The IPO window for retailers and consumer-goods companies has cracked open this year after tariff-related uncertainty hampered activity last year.