Fast food restaurant franchise Sonic, was purchased today by the same company that owns Arby's, Buffalo Wild Wings, and Rusty Taco under the umbrella of Inspire Brands.
Cliff Hudson, the CEO of Sonic noted, "This value-maximizing transaction validates the actions we have taken over the last year to grow traffic and improve sales while delivering differentiated offerings and superior guest service."
Upon announcing the buyout, Paul Brown, the CEO of Inspire Brands commented: "Sonic is a highly differentiated brand and is an ideal fit for the Inspire family. We're excited to build on Sonic's momentum as we leverage our combined expertise and capabilities to better serve guests, further support team members and franchisees, and drive long-term growth."
About Sonic - Sonic Drive-in is headquartered in Oklahoma City, Ok with 3,527 drive-ins located in 45 states. According to the compnay's website, "Founder Troy Smith Sr. started SONIC, America’s Drive-In as a hamburger and root beer stand in 1953 in Shawnee, Okla., called Top Hat Drive-In. Back then, SONIC revolutionized the ordering process by using curbside speakers that allowed customers to place food orders without ever leaving their cars. This technology spawned the slogan “Service at the Speed of Sound™,” which translated to one word: SONIC. Troy Smith Sr. aptly changed the name from Top Hat to SONIC Drive-In in 1959. The first drive-in to adopt the SONIC name is still serving customers in Stillwater, Okla."
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