Buffalo Wild Wings gets a hotttttt offer

Last month, private equity firm Roark Capital reportedly offered Buffalo Wild Wings an unsolicited, all-cash bid that would value the company at $2.3B. The hot wings chain, which boasts 1,237 locations in the US, has floundered in the past few years but has shown some glimmerings of promise — and it’s just the type of […]


November 15, 2017

Last month, private equity firm Roark Capital reportedly offered Buffalo Wild Wings an unsolicited, all-cash bid that would value the company at $2.3B.

The hot wings chain, which boasts 1,237 locations in the US, has floundered in the past few years but has shown some glimmerings of promise — and it’s just the type of company Roark loves.

AKA, mediocre food joints

Roark has a long history of buying out struggling restaurant chains, including Cinnabon (2004; $12m), Arby’s (2011; $131m), Carl’s Jr. (2013, $1.7B), and, most recently, Jimmy John’s (2016, $2.3B). Earlier this year, they barely missed out on adding Popeye’s to their stable.

And when Roark punks down, they don’t screw around: they are credited with reviving Arby’s — a chain that was “left for dead” — into a thriving business (even though everyone still hates their food).

Can they do it again?

Buffalo Wild Wings has faced some troubling times recently, including the soon-to-be departure of their CEO, and a dip in sales resulting from high chicken wing prices.

Prior to this week, the chain’s shares had been on the decline for two years. But news of Roark’s offer has caused a spike of 28% — and suddenly, investors are hungry for saucy chicken again.

Get the 5-minute roundup you’ll actually read in your inbox

Business and tech news in 5 minutes or less

100% free. We don’t spam. Unsubscribe whenever.

Psst

How'd Bezos build a billion dollar empire?

In 1994, Jeff Bezos discovered a shocking stat: Internet usage grew 2,300% per year.

Data shows where markets are headed.

And that’s why we built Trends — to show you up-and-coming market opportunities about to explode. Interested?

We’re shooting our shot…

Start your mornings with The Daily.

Get the freshly baked 5-minute newsletter every day except Saturdays.

It’s filled with the most interesting stories on business, tech, and the internet.

And written for innovators of every industry. Sign up for the news that slaps.

If you don’t like it, unsubscribe any time. Privacy policy.

[email-submission-form redirect-to-home="true" button-text="Join Free" include-trends-opt-in="true" id="main-signup-form" fail-url="" success-url="https://thehustle.co/signup" default-source="thehustleco" default-campaign="home"]
<script type="text/javascript"> var onloadCallback = function() { grecaptcha.render('verify-your-humanity', { 'sitekey' : '6LdddrcZAAAAALyttpvOqiwQGwq5BNhgDz4tMQGE' }); }; function getCookieValue(a) { var b = document.cookie.match('(^|[^;]+)\\s*' + a + '\\s*=\\s*([^;]+)'); return b ? atob(decodeURIComponent(b.pop())) : ''; } function setHiddenFieldValue(wrappingDiv, searchParams, className, utmName, cookieName, defaultValue) { var el = wrappingDiv.getElementsByClassName(className)[0]; var existingVal = el.getAttribute('value'); var newVal = searchParams.get(utmName) || getCookieValue(cookieName); if ((existingVal == null || existingVal == '' || existingVal == defaultValue) && (newVal != null && newVal != '')) { el.setAttribute('value', newVal); } } function setHiddenFieldValueFromUtm( wrappingDiv, searchParams, className, utmName, defaultValue ) { var el = wrappingDiv.getElementsByClassName(className)[0]; if (el != null) { var existingVal = el.getAttribute("value"); var newVal = searchParams.get(utmName); if (newVal != null && newVal != "") { el.setAttribute("value", newVal); } } } function initForm() { var wrappingDivs = document.getElementsByClassName('email-submission'); wrappingDivs.forEach(wrappingDiv => { var sp = new URLSearchParams(window.location.search); setHiddenFieldValue(wrappingDiv, sp, 'funnel-source', 'utm_source', 'funnel_source', 'thehustleco'); setHiddenFieldValue(wrappingDiv, sp, 'funnel-campaign', 'utm_campaign', 'funnel_campaign', 'home'); setHiddenFieldValue(wrappingDiv, sp, 'funnel-medium', 'utm_medium', 'funnel_medium', ''); setHiddenFieldValue(wrappingDiv, sp, 'funnel-referral', 'ref', 'funnel_referral', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-a', 'a', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-c', 'c', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-o', 'o', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-oc', 'oc', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-e', 'e', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-f', 'f', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-r', 'r', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-t', 't', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-s1', 's1', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-s2', 's2', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-s3', 's3', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-s4', 's4', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-s5', 's5', ''); var error_message = getCookieValue('funnel_error_message'); if (error_message && error_message.trim() != '') { var error = wrappingDiv.getElementsByClassName('funnel-error')[0]; var prev_email = getCookieValue('funnel_email'); error_message = prev_email + " is not valid. Please try again"; error.innerHTML = error_message; error.style = ''; } }); if (false) { initCaptchaFormV2(); } } function initCaptchaFormV2() { var v3RecaptchaResponseEl = document.getElementById('recaptcha-response-v3'); v3RecaptchaResponseEl.parentNode.removeChild(v3RecaptchaResponseEl); var wrappingDiv = document.getElementById('main-signup-form'); var subForm = wrappingDiv.getElementsByClassName('email-submission')[0]; var captchaVersion = document.createElement('input'); captchaVersion.class = 'g-recaptcha hidden-input'; captchaVersion.type = 'hidden'; captchaVersion.name = 'g-recaptcha-response-v2'; captchaVersion.value = 'true'; subForm.appendChild(captchaVersion); var captchaEl = document.createElement('div'); captchaEl.id = 'verify-your-humanity'; subForm.appendChild(captchaEl); var captchaApiScriptEl = document.createElement('script'); captchaApiScriptEl.src = 'https://www.google.com/recaptcha/api.js?onload=onloadCallback&render=explicit'; captchaApiScriptEl.async = true; captchaApiScriptEl.defer = true; document.head.appendChild(captchaApiScriptEl); } function appendCheckboxes() { var optInDivs = document.querySelectorAll('.trends-opt-in'); optInDivs.forEach(el => { if (el.getElementsByClassName('trends-opt-in-checkbox').length < 1) { var checkbox = document.createElement('input'); checkbox.setAttribute('class', 'trends-opt-in-checkbox'); checkbox.setAttribute('type', 'checkbox'); checkbox.setAttribute('name', 'trends_opt_in'); var label = document.createElement('label'); label.setAttribute('class', 'trends-opt-in-text'); label.textContent = "Yes, I'd like to receive updates on market opportunities before they explode from Trends by The Hustle"; el.appendChild(checkbox); el.appendChild(label); checkbox.click(); } }) } window.addEventListener('DOMContentLoaded', (event) => { var funnel_email_cookie = getCookieValue('funnel_email'); if ( (true) && (funnel_email_cookie != null && funnel_email_cookie != '') ) { window.location.replace('/home'); } initForm(); if (true) { appendCheckboxes(); } }); </script> <div class="email-signup" id=main-signup-form> <div class="funnel-error" style="display:none;"></div> <form class="email-submission" action="https://cms.thehustle.co/api/v1/contacts/wordpress_create" method="post"> <div class="email-form-wrap"> <input class="funnel-source hidden-input" type="hidden" name="source" value="thehustleco"> <input class="funnel-campaign hidden-input" type="hidden" name="campaign" value="home"> <input class="funnel-medium hidden-input" type="hidden" name="medium"> <input class="funnel-referral hidden-input" type="hidden" name="referral_code"> <input class="funnel-fail-url hidden-input" type="hidden" name="fail_url" value=""> <input class="funnel-a hidden-input" type="hidden" name="a" value=""> <input class="funnel-c hidden-input" type="hidden" name="c" value=""> <input class="funnel-o hidden-input" type="hidden" name="o" value=""> <input class="funnel-oc hidden-input" type="hidden" name="oc" value=""> <input class="funnel-e hidden-input" type="hidden" name="e" value=""> <input class="funnel-f hidden-input" type="hidden" name="f" value=""> <input class="funnel-r hidden-input" type="hidden" name="r" value=""> <input class="funnel-t hidden-input" type="hidden" name="t" value=""> <input class="funnel-s1 hidden-input" type="hidden" name="s1" value=""> <input class="funnel-s2 hidden-input" type="hidden" name="s2" value=""> <input class="funnel-s3 hidden-input" type="hidden" name="s3" value=""> <input class="funnel-s4 hidden-input" type="hidden" name="s4" value=""> <input class="funnel-s5 hidden-input" type="hidden" name="s5" value=""> <input class="funnel-success-url hidden-input" type="hidden" name="success_url" value="https://thehustle.co/signup"> <input id="recaptcha-response-v3" class="g-recaptcha hidden-input" type="hidden" name="g-recaptcha-response" value=""> <input class="signup-email" type="email" name="email" placeholder="Your email address" required> <input class="email-submit" type="submit" value="Join Free"> </div> <div class="trends-opt-in"></div> <div submit-success> <template type="amp-mustache"> <p class="c-message c-message--success">Thank you for subscribing.</p> </template> </div> <div submit-error> <template type="amp-mustache"> <p class="c-message c-message--failed">Your submission failed. Please try again!</p> </template> </div> </form> </div>