Arby’s is a well-known American fast-food brand famous for its roast beef sandwiches. But many often ask, who owns Arby’s today? This article covers Arby’s ownership, financial profile, leadership, and more.
Arby’s Company Profile
Arby’s is a popular American fast-food restaurant chain best known for its roast beef sandwiches and slogan “We Have the Meats.” It positions itself as a sandwich-focused alternative to traditional burger chains like McDonald’s and Burger King. Arby’s operates thousands of locations across the United States and in several other countries.
Unlike typical fast-food chains that focus heavily on hamburgers, Arby’s built its identity around hot deli-style meats, including turkey, brisket, and roast beef. Over the years, it expanded its menu to include wraps, chicken sandwiches, curly fries, sliders, and milkshakes. Arby’s appeals to customers looking for more variety and heartier sandwiches.
Company Details
- Founded: 1964
- Founders: Forrest Raffel and Leroy Raffel
- Headquarters: Atlanta, Georgia, USA
- Industry: Fast Food / Quick Service Restaurants
- Specialty: Sandwiches, especially roast beef
- Parent Company: Inspire Brands
- Ownership: Privately held (majority owned by Roark Capital Group)
- CEO: Rita Patel (as of 2022)
- Revenue: Estimated at $4.5 billion annually
- Global Locations: Over 3,500 restaurants in the U.S. and several international markets
Arby’s continues to grow as part of Inspire Brands, with ongoing efforts in innovation, international expansion, and menu development. Its focus remains on quality meats, unique sandwiches, and quick service.
Arby’s Founders
Arby’s was founded in 1964 by Forrest Raffel and Leroy Raffel, brothers and entrepreneurs from Youngstown, Ohio. They were in the restaurant equipment business and noticed a growing opportunity in the fast-food sector. But rather than offer burgers like everyone else, they decided to specialize in roast beef.
The name “Arby’s” comes from “R.B.” – short for Raffel Brothers. They opened the first Arby’s location in Boardman, Ohio, offering a menu centered on freshly sliced roast beef sandwiches.
Major Milestones
1964 – First Arby’s Opens
The first restaurant opened in Boardman, Ohio, selling roast beef sandwiches for 69 cents.
1971 – 100 Locations
Within a decade, Arby’s grew rapidly and reached 100 locations, expanding through franchising.
1981 – 1,000th Location
By the early 1980s, Arby’s reached a major milestone with 1,000 restaurants across the U.S.
1990s – Menu Expansion
Arby’s introduced new items like chicken, salads, and Market Fresh sandwiches to diversify its offerings.
2008 – Merger with Wendy’s
Arby’s merged with Wendy’s under Triarc Companies, forming Wendy’s/Arby’s Group. The partnership didn’t last long due to differing brand strengths.
2011 – Roark Capital Acquires Arby’s
Roark Capital purchased Arby’s from Wendy’s for $430 million, helping Arby’s focus as a standalone brand again.
2018 – Inspire Brands is Formed
Arby’s acquired Buffalo Wild Wings and launched Inspire Brands, a multi-brand restaurant company. Arby’s became a flagship brand within this group.
2020 – Digital Growth and Innovation
Arby’s began modernizing its operations with digital ordering, drive-thru improvements, and expanded delivery options.
Who Owns Arby’s?
Arby’s is privately owned and operates under the umbrella of Inspire Brands, a large restaurant holding company. Inspire Brands was formed in 2018 after Arby’s acquired Buffalo Wild Wings. Arby’s is not publicly traded, and its financial decisions are made at the parent company level.
The ultimate owner of Arby’s is Roark Capital Group, a private equity firm that controls the majority stake in Inspire Brands. Roark is known for investing in franchise-heavy businesses and restaurant chains.
This layered structure—Arby’s is owned by Inspire Brands, which is majority-owned by Roark Capital—means Arby’s operates with backing from significant financial and operational resources. This has allowed it to modernize, expand, and compete more effectively in the quick-service industry.
Arby’s follows a franchise-based business model. While some locations are company-owned, most are run by franchisees. This structure enables faster expansion and lower capital costs.
Although most Arby’s restaurants are in the United States, the brand has expanded internationally. Countries with Arby’s locations include Canada, Turkey, Egypt, South Korea, and others. Inspire Brands continues to explore global opportunities.
Since its acquisition by Roark Capital, Arby’s has seen major investments in marketing, menu innovation, drive-thru technology, and store redesigns. These efforts helped the brand modernize and regain market share in a highly competitive industry.
Parent Company: Inspire Brands
Inspire Brands is the direct parent company of Arby’s. It was founded in February 2018 after Arby’s completed the acquisition of Buffalo Wild Wings. The aim was to build a portfolio of strong, scalable restaurant brands.
Headquartered in Atlanta, Georgia, Inspire Brands now owns several well-known names in the foodservice industry including:
- Arby’s
- Buffalo Wild Wings
- Sonic Drive-In
- Jimmy John’s
- Dunkin’
- Baskin-Robbins
Inspire Brands operates over 32,000 restaurants across more than 70 countries, making it one of the largest restaurant companies globally by revenue and unit count.
Acquisition Insights and Timeline
Arby’s Acquisition by Roark Capital (2011)
In 2011, Roark Capital acquired an 81.5% stake in Arby’s from the Wendy’s/Arby’s Group. The deal was valued at around $430 million, including $130 million in cash. This move separated Arby’s from Wendy’s and allowed it to operate as an independent brand again.
Creation of Inspire Brands (2018)
After years of growth under Roark, Arby’s acquired Buffalo Wild Wings in a deal worth $2.9 billion. Following this transaction, Inspire Brands was formed, with Arby’s as the founding member. The goal was to create a brand-driven, multi-concept restaurant company.
Additional Inspire Acquisitions
Though Arby’s was not the buyer in these deals, it remained a core part of Inspire’s portfolio:
- Sonic Drive-In (2018): Acquired for $2.3 billion.
- Jimmy John’s (2019): Acquired in an all-equity deal.
- Dunkin’ & Baskin-Robbins (2020): Acquired from Dunkin’ Brands Group for $11.3 billion, marking Inspire’s largest acquisition.
Each acquisition strengthened Inspire Brands, giving Arby’s access to shared services like technology, marketing, and operations.
Who is the CEO of Arby’s?
Paul J. Brown serves as Co‑Founder and Chief Executive Officer of Inspire Brands, the parent company of Arby’s.
He co-founded Inspire in February 2018 alongside Neal Aronson and has led the acquisitions of Buffalo Wild Wings, Sonic, Jimmy John’s, and Dunkin’ Brands.
Before Inspire, Brown was CEO of Arby’s (2013–2018), overseeing the “We Have the Meats” campaign, a redesign, and global expansion.
Here’s a quick summary of the leadership timeline:
| Year | Position | Executive | Notes |
|---|---|---|---|
| 2013–2018 | CEO of Arby’s | Paul Brown | Led major brand turnaround |
| 2020 | CMO of Arby’s | Rita Patel | Joined from Buffalo Wild Wings |
| Apr 2023 | Brand President, Arby’s | Rita Patel | Promoted to lead the brand |
| Sep 2024 | Brand President, Arby’s | David Graves | Took over from Patel |
Arby’s Brand Leadership – Brand President
As of late 2024, David Graves is the Brand President of Arby’s. Graves joined from Pizza Hut U.S., bringing experience from KFC and Pizza Hut. Under his leadership, Arby’s U.S. system sales grew 1.8% in 2023.
Before Graves, Rita Patel served as Brand President from April 2023 to September 2024. Prior to that, she was Arby’s Chief Marketing Officer, leading brand strategy, menu innovation, and marketing.
CEO vs. Brand President Roles
Paul Brown leads at the corporate level. He sets the overall strategy, steers acquisitions, and aligns the multi-brand portfolio. He oversees brand presidents and ensures cross-brand synergies and digital innovation.
David Graves, as Brand President, manages Arby’s operational and marketing strategies. He focuses on franchise operations, sales growth, and customer experience.
He reports to Inspire’s executive team, including Brown and Chief Brand Officer Scott Murphy.
Decision-Making & Governance
- Strategic Direction: Led by Paul Brown and Inspire’s executive team.
- Brand Execution: Managed by brand presidents like David Graves.
- Marketing & Innovation: Coordinated by C-suite leaders across Inspire and Arby’s, including former CMO Rita Patel and current metrics under Inspire’s structure.
- Franchising decisions, menu changes, and operations are largely overseen at the brand level, but with corporate collaboration.
Arby’s Annual Revenue and Net Worth
In 2025, Arby’s annual revenue is estimated at $4.6 billion, up from approximately $4.5 billion in previous years. This figure reflects sales across its 3,400+ locations in the U.S. and international markets.
Digital sales and delivery continue to drive growth, while innovative menu items help boost same-store sales.
Arby’s makes up roughly 14–15% of Inspire’s systemwide sales, contributing about $4.6 billion annually versus the group’s total of $32 billion. This places Arby’s among the top revenue drivers in the portfolio.
Private equity–backed investments in remodeling, menu innovation, marketing, and technology have improved Arby’s margins. For instance, digital and delivery channels now account for over 20% of U.S. sales—higher even than pre-pandemic levels.
Arby’s net asset value—as a part of Inspire—can be estimated at around $3 billion as of June 2025, based on:
- Its revenue contribution (~$4.6 billion annually)
- Standard restaurant valuation multiples (typically 0.5–1.0x revenue)
- Strategic importance within the Inspire portfolio.
Outlook for 2025 and Beyond
- A pending Inspire IPO at a ~$20 billion valuation will further clarify Arby’s worth.
- Roark Capital and Inspire are evaluating public markets, as their next move could unlock shareholder value.
- Continued investment in technology, menu innovation, and international expansion is likely to sustain revenue momentum.
Here’s a detailed overview of the historical revenue and net worth of Arby’s from 2015-25:
| Year | Annual Revenue (USD) | Estimated Net Worth (USD) | Key Notes |
|---|---|---|---|
| 2015 | $3.1 billion | $1.5–1.8 billion | Roark Capital begins aggressive growth strategy |
| 2016 | $3.3 billion | $1.7–2.0 billion | Menu expansion and rebranding efforts underway |
| 2017 | $3.6 billion | $1.9–2.2 billion | Strong ad campaigns boost visibility |
| 2018 | $3.8 billion | $2.0–2.4 billion | Inspire Brands formed after Buffalo Wild Wings acquisition |
| 2019 | $4.0 billion | $2.2–2.6 billion | Growth through franchise openings and modernization |
| 2020 | $3.7 billion | $1.8–2.3 billion | COVID-19 impact, offset partially by digital ordering |
| 2021 | $4.1 billion | $2.3–2.8 billion | Recovery with strong drive-thru and delivery sales |
| 2022 | $4.3 billion | $2.5–3.0 billion | Menu innovation and international growth |
| 2023 | $4.4 billion | $2.6–3.2 billion | Continued momentum under Inspire Brands |
| 2024 | $4.5 billion | $2.8–3.5 billion | Rita Patel exits; David Graves takes over brand leadership |
| 2025 | $4.6 billion | $3.0–4.0 billion | Inspire IPO rumors; Arby’s solidifies brand position |
Brands Owned by Arby’s
Here is a detailed breakdown of the companies, brands, acquisitions, and entities owned and operated by Arby’s itself as of 2025. These are entities or subsidiaries that have historically been associated directly with the Arby’s brand, especially before it became part of a broader portfolio:
| Name | Type | Year Acquired/Founded | Description | Current Status |
|---|---|---|---|---|
| Arby’s Restaurant Group, Inc. | Operating Company | 2011 | Core legal and operating entity for all Arby’s corporate-owned stores and franchise system. | Active – Primary Arby’s structure |
| RTM Restaurant Group | Former Franchisee Group | 2005 | Once Arby’s largest franchisee; acquired and absorbed to consolidate operations. | Integrated into Arby’s core |
| Arby’s International Division | Global Expansion Unit | 2010s | Oversees Arby’s expansion outside the U.S. (e.g., Turkey, South Korea, Mexico, Egypt). | Active – Operates with master franchises |
| Arby’s Foundation | Nonprofit Organization | 1986 | Philanthropy arm focused on ending childhood hunger and youth development. | Active – Independent foundation entity |
| Arby’s Franchise Network | Franchise System | Ongoing | Network of 2,200+ franchise-owned locations under Arby’s agreements and branding. | Active – Core revenue contributor |
| Arby’s Ventures (defunct) | Brand Experimentation Unit | 2000s (varied) | Temporary pilot efforts (e.g., Arby’s Express); folded back into core operations. | Defunct – No longer active |
RTM Restaurant Group
Arby’s acquired RTM Restaurant Group in 2005, one of its largest franchisees at the time. This acquisition gave Arby’s control over several hundred locations across the U.S. and helped bring a significant portion of its system under direct corporate ownership. RTM had its own infrastructure, including operations, training, and regional management, which was integrated into Arby’s central operations.
After the acquisition, RTM became a wholly owned subsidiary of Arby’s and was fully absorbed into the company’s corporate-owned operations model. Many of the markets previously managed by RTM still benefit from its legacy systems, and it served as a platform for Arby’s operational evolution.
Arby’s Restaurant Group, Inc. (ARG)
Arby’s Restaurant Group, Inc. is the core legal entity that owns the Arby’s brand and its U.S.-based operations. It was formed as the standalone operating unit after Arby’s was split from Wendy’s/Arby’s Group in 2011 following its acquisition by Roark Capital. ARG is responsible for managing Arby’s corporate-owned stores, franchising system, menu development, brand marketing, and international expansion.
This entity also holds trademarks, supply chain agreements, and technology systems for Arby’s operations, including digital ordering and POS systems.
Arby’s International Division
Arby’s has its own international expansion arm that operates in partnership with master franchisees and developers. Though smaller compared to its U.S. footprint, this division manages operations in select countries including:
- Canada
- Turkey
- Egypt
- South Korea
- Mexico (recent expansion through franchise agreement)
This international division negotiates localized menus, branding adaptations, and regulatory compliance. Unlike Inspire Brands’ global portfolio, Arby’s overseas growth is still managed under the Arby’s Restaurant Group structure, not through a centralized Inspire-level global division.
Arby’s Foundation
The Arby’s Foundation is a nonprofit entity operated under Arby’s brand, dedicated to ending childhood hunger in the United States. It was established as a way for the brand to engage in corporate social responsibility. The Foundation funds school lunch programs, food pantries, and education initiatives. Though it does not generate revenue, it is a recognized Arby’s-owned entity and part of its brand identity.
Arby’s Ventures (Defunct/Absorbed)
Over the years, Arby’s briefly operated some experimental ventures and brand pilots (e.g., Arby’s Express or co-branded locations), but none exist today as independent entities. These were either absorbed into the core brand or discontinued during strategic restructuring.
Arby’s Franchise Network
While not a traditional “subsidiary,” Arby’s maintains a powerful franchise network, which includes over 2,200 franchised locations. Each franchise agreement is held under Arby’s legal and brand framework, with requirements for brand consistency, product sourcing, and marketing participation. Large franchise operators sometimes manage dozens or hundreds of stores and represent a core asset of the Arby’s system.
Final Thoughts
To answer the question—who owns Arby’s—the fast-food giant is owned by Inspire Brands, which is backed by Roark Capital Group. Over the decades, Arby’s evolved from a single Ohio sandwich shop into a key player in a vast restaurant empire. Its leadership, revenue, and brand strength continue to keep it relevant in a competitive market.
FAQs
Who is Arby’s owned by?
Arby’s is owned by Inspire Brands, a multi-brand restaurant holding company backed by Roark Capital Group, a private equity firm. Arby’s was one of the founding brands of Inspire Brands in 2018 and remains a core part of its portfolio alongside Dunkin’, Sonic, Jimmy John’s, Buffalo Wild Wings, and Baskin-Robbins.
Does Arby’s still make money?
Yes, Arby’s is still highly profitable. As of 2025, the brand generates approximately $4.6 billion in annual revenue through a mix of company-owned and franchised restaurants. Its profitability is supported by a strong franchise network, digital ordering, and a loyal customer base. It continues to grow modestly in both the U.S. and international markets.
Are Wendy’s and Arby’s owned by the same company?
No, Wendy’s and Arby’s are no longer owned by the same company. Although they were briefly connected under the Wendy’s/Arby’s Group from 2008 to 2011, they have since split. Wendy’s sold Arby’s to Roark Capital, which then formed Inspire Brands. Today, Wendy’s is a standalone public company, while Arby’s is part of Inspire Brands.
Is Subway buying Arby’s?
No, Subway is not buying Arby’s, and there are no confirmed plans or negotiations suggesting such a move. Subway was acquired by Roark Capital in 2023, the same firm that owns Inspire Brands (Arby’s parent company). However, Subway and Arby’s are operated separately and remain distinct entities under different brand management.
Who is the largest Arby’s franchisee?
As of 2025, Flynn Restaurant Group is one of the largest Arby’s franchisees. The company operates hundreds of Arby’s locations across the U.S., along with other major restaurant brands. Flynn and a few other multi-brand operators control a significant portion of Arby’s franchised units, helping scale the brand nationally.
Are Arby’s and Subway owned by the same company?
Not exactly. Arby’s is owned by Inspire Brands, and Subway is now owned by Roark Capital. While both fall under the same private equity umbrella, they are managed and operated separately. Inspire Brands acts as the holding company for Arby’s, while Subway is managed as a distinct business entity.
How many companies does Arby’s own?
Arby’s does not own a portfolio of separate companies like its parent Inspire Brands does. Instead, it operates through several internal entities such as:
- Arby’s Restaurant Group, Inc.
- RTM Restaurant Group (absorbed)
- Arby’s International Division
- The Arby’s Foundation
So technically, Arby’s controls around 4 core entities, but does not own other standalone restaurant brands.
What companies does Arby’s own?
Arby’s owns or operates the following internal entities:
- Arby’s Restaurant Group, Inc. – the main operating company.
- RTM Restaurant Group – acquired in 2005 and fully integrated.
- Arby’s International Division – manages global expansion through master franchises.
- Arby’s Foundation – a nonprofit focused on child hunger relief.
These are not separate brands but operating structures that support Arby’s growth and mission. Arby’s does not own other restaurant chains.
Who owns Arby’s now?
Arby’s is owned by Inspire Brands, which is majority-owned by Roark Capital Group.
Is Arby’s publicly traded?
No, Arby’s is not a publicly traded company. It is privately held through Inspire Brands.
What company owns Arby’s and Buffalo Wild Wings?
Both are owned by Inspire Brands, formed after Arby’s acquired Buffalo Wild Wings in 2018.
When did Arby’s start?
Arby’s was founded in 1964 by the Raffel brothers in Ohio.