buffalo wild wings

Sard Verbinnen & Co. is handling media for Buffalo Wild Wings' $2.9B takeover by Arby's Restaurant Group.

Atlanta's Roark Capital Group, owner of Arby's, is offering $157 for each BWW share, a price that represents a 38 percent premium over the 30-day average closing of BWW's shares prior to the transaction.

The deal follows a proxy fight  for BWW that was launched by activist hedge fund Marcato Capital Management, which won three seats on the BWW board of directors.

Marcato, which controls a 6.4 percent stake in BWW, plans to vote in favor of Arby's bid.

Paul Brown, Arby's CEO, called BWW "one of the most distinctive and successful entertainment and casual dining restaurant companies in America."

BWW will be a privately-held subsidiary of Arby's following the anticipated first-quarter 2018 completion of the transaction.

SV&C's David Reno and Meghan Gavigan represent BWW, while Christopher Fuller, senior VP at Arby's, works the media for the sandwich chain with 3,300 outlets.