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Buffalo Wild Wings Surges After It's Said to Get Roark Bid

  • Investment firm made previous takeover attempt for Popeyes
  • Restaurant chain lost battle with activist investor Marcato
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Why Roark Capital Is Hungry for Buffalo Wild Wings

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Roark Capital Group, the private equity owner of Arby’s, Carl’s Jr. and other fast-food brands, is hungry for chicken.

The firm, which backed an unsuccessful takeover attempt for fried-chicken chain Popeyes Louisiana Kitchen Inc. within the past year, made an all-cash offer for Buffalo Wild Wings Inc. last month, according to a person familiar with the matter. The deal would value the company at more than $2.3 billion, said the person, who asked not to be identified because the discussions are private.