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Buffalo Wild Wings has been bought out by Arby's

A deal worth $2.9 billion has just been announced.
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Arby's has the meats, and now it has the wings.

The fast-food sandwich chain is adding "wings, beers and sports" to its portfolio with a $2.9 billion takeover of Buffalo Wild Wings announced on Tuesday.

B-Dubs, of course, has its head office in Minneapolis, where it has been since moving to Minnesota from Ohio in 1997.

Now, its more than 1,200 restaurants across 10 countries – half of which it owns and the others are franchised – will fall under the Arby's umbrella, provided the deal is approved by both companies' boards.

Arby's is paying $2.4 billion cash for the company and assuming B-Dubs' debt, valued at $500 million, and it comes after a period of struggles for the wings chain.

USA Today notes B-Dubs has been among those hit by the slump in the casual dining sector, and has also been affected by the rising cost of chicken wings.

Competition from other casual dining options has had an impact, while the lowering cost of grocery prices is seeing more families turn back to home cooking, the newspaper adds.

There's no news yet about whether the takeover has any implications for those employed at its Minneapolis head office or Minnesota restaurants, though the press release notes that B-Dubs will continue to operate as an independent brand.

In the statement, Buffalo Wild Wings CEO Sally Smith said the merger with an "experienced restaurant and food service investor ... will enable us to capitalize on significant growth opportunities in the years ahead."

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