Inspire Brands is a major name in the foodservice industry. The question “who owns Inspire Brands” is often asked by those interested in its massive portfolio of restaurant chains. This article takes a deep dive into the ownership, leadership, financials, and holdings of this powerful restaurant company.
Inspire Brands Company Profile
Inspire Brands is a multi-brand restaurant company headquartered in Atlanta, Georgia. It was established to manage and grow a portfolio of distinct yet complementary restaurant concepts. Unlike many companies in the foodservice sector, Inspire operates a holding company model, allowing each of its brands to maintain operational independence while benefiting from shared infrastructure, technology, and leadership.
Inspire Brands operates over 32,000 restaurants across 70+ countries, making it one of the largest restaurant companies in the world. Its brands span multiple categories, including fast food, casual dining, coffee, and desserts. Inspire focuses on acquiring strong, category-leading brands and supporting them with strategic investment, operational expertise, and innovation.
Founders of Inspire Brands
Inspire Brands was co-founded by:
- Paul Brown – Former CEO of Arby’s, he is now the CEO of Inspire Brands. Brown has an extensive background in hospitality and brand transformation. Under his leadership, Arby’s underwent a successful turnaround before becoming part of Inspire.
- Neal Aronson – Founder and managing partner of Roark Capital Group, the private equity firm that owns Inspire Brands. Aronson is known for his focus on consumer and franchise-based businesses. Roark has funded and guided the expansion of Inspire from the beginning.
Together, Brown and Aronson created Inspire Brands in 2018 following Roark’s acquisition of Buffalo Wild Wings through Arby’s Restaurant Group.
Major Milestones in Inspire Brands’ History
2018 – Formation of Inspire Brands
Inspire Brands was officially formed in February 2018 when Arby’s acquired Buffalo Wild Wings and Rusty Taco. This acquisition was the foundation for the Inspire portfolio model.
2018 – Acquisition of Sonic Drive-In
Later that year, Inspire added Sonic, a popular drive-in chain known for its unique service model and drinks. This marked Inspire’s entry into the QSR burger and drive-in segment.
2019 – Jimmy John’s Acquisition
Inspire expanded its fast-casual offerings by acquiring Jimmy John’s, a well-known sandwich chain with a large presence in college towns and urban areas.
2020 – Dunkin’ Brands Acquisition
In one of the largest restaurant deals in recent years, Inspire acquired Dunkin’ Brands for $11.3 billion. This added both Dunkin’ (coffee and donuts) and Baskin-Robbins (ice cream) to its portfolio, significantly increasing its footprint and revenue.
2021 – Technology and Innovation Investments
Inspire began building out shared platforms for digital ordering, delivery, data analytics, and marketing to benefit all its brands. These efforts aim to improve guest experience and franchisee performance.
2022–2024 – Global Expansion and Loyalty Growth
Inspire Brands continued to grow its global footprint through franchising while also boosting its digital capabilities. It has expanded mobile app engagement and launched cross-brand loyalty programs in select markets.
Company Details
- Full Name: Inspire Brands, Inc.
- Founded: February 2018
- Headquarters: Atlanta, Georgia, United States
- Type: Private (Owned by Roark Capital Group)
- CEO: Paul Brown
- Owner: Roark Capital Group
- Number of Brands Owned: 6 major restaurant brands
- Locations: Over 32,000
- Employees: Over 650,000 system-wide across all brands (includes franchise workers)
- Annual Systemwide Sales: Over $30 billion
- Industry: Restaurants, Foodservice, Franchising
- Operational Model: Multi-brand platform with centralized support and decentralized brand management
Inspire’s goal is to build a family of distinctive, scalable brands that lead in their categories. It emphasizes innovation, data-driven decision-making, and delivering great customer experiences across its portfolio. While each brand maintains its own identity, Inspire provides them with strategic oversight, technology platforms, real estate support, and operational expertise.
Who Owns Inspire Brands: Major Shareholders
Inspire Brands is a privately held company. It is majority owned by Roark Capital Group, a private equity firm based in Atlanta. Roark has deep involvement in franchising and consumer brands. The firm holds controlling ownership and plays a key role in Inspire’s growth strategy.
The leadership of Inspire works closely with Roark. They focus on expansion, technology, and franchisee success. While the company is private, key investment partners and top-level executives also hold equity stakes.
Here’s a list of the largest shareholders of Inspire Brands:
| Shareholder | Estimated Ownership (%) | Type of Ownership | Control & Influence |
|---|---|---|---|
| Roark Capital Group | ~58% | Majority equity ownership | Controls board seats, strategic direction, M&A decisions |
| Limited Partners (Roark Fund LPs) | ~30% | Indirect equity via Roark funds | Passive investors, receive returns via Roark’s fund structure |
| Paul J. Brown (CEO & Co-founder) | ~5% | Executive equity & co-founder stake | Strong operational control, sets vision and leads major initiatives |
| Neal Aronson (via Roark Capital) | ~2% | Founder-level stake via Roark GP | Key strategic advisor, Roark’s influence through board leadership |
| Executive Leadership Team | ~3% | Retention equity & performance-based shares | Drives brand-specific and enterprise performance |
| Kate Jaspon (CFO) | ~1% | Executive equity grant | Financial strategy, capital management, investor relations |
| Brand Presidents (All brands) | ~1% | Equity-based incentives | Operational control over brand execution and franchise management |
Roark Capital Group
Roark Capital is the majority owner of Inspire Brands. The private equity firm, based in Atlanta, manages over $40 billion in assets and specializes in franchised, multi-unit businesses. Roark acquired Inspire’s predecessor through Arby’s in 2011 and continued supporting its growth. Roark now controls over 50% of Inspire’s equity, giving it decisive influence over strategy, leadership appointments, and capital allocation, including potential IPO plans.
Neal Aronson (Roark Founder / Partner)
Neal Aronson is the founder and managing partner of Roark. He plays a key role in Inspire’s board and strategic decisions. Although Roark’s ownership is held via its funds, Aronson’s personal influence echoes through his governance approach, focusing on long-term value and brand building. His leadership underpins Roark’s franchise-first investment philosophy.
Paul J. Brown (Co‑Founder & CEO)
As CEO and co-founder, Paul Brown holds a significant management stake in Inspire alongside his executive compensation package. His ownership is structured through equity grants and performance-linked stock tied to Inspire’s long-term growth. Brown remains a top insider and a trusted partner for Roark, guiding brand acquisitions, digital innovation, and franchise relationships.
Kate Jaspon (CFO / Executive Stakeholder)
Kate Jaspon, Inspire’s CFO, also holds equity participation. Her financial stewardship is critical, and her equity stake aligns her incentives with overall company performance. While smaller than Brown’s, it is meaningful in reinforcing fiduciary discipline and strategic financial planning.
Executive Leadership & Brand Presidents
Other key leaders—such as heads of Arby’s, Dunkin’, Sonic, Jimmy John’s, Buffalo Wild Wings, and Baskin‑Robbins—hold retention equity grants. These ensure stability and incentivize brand-level performance. Their stakes aren’t individually disclosed, but collectively they hold several percent of equity through Roark’s management equity pool.
Limited Partner Investors (via Roark Funds)
Roark’s ownership is pooled across institutional Limited Partners (LPs): pension funds, endowments, and sovereign wealth funds. While individual LPs are anonymous, collectively they contribute to Roark’s capital base. Their ownership is indirect, but essential. These LPs share returns through Roark’s fund structures and benefit from Inspire’s growth.
Who is the CEO of Inspire Brands?
Paul Brown co-founded Inspire Brands in February 2018. He has remained as its Chief Executive Officer since its inception. Before leading Inspire, he was CEO of Arby’s (2013–2018), where he led a successful turnaround, introducing the “We Have The Meats” campaign and new menu offerings.
Professional Background
Brown has a strong hospitality and business background. He was previously:
- President of Brands and Commercial Services at Hilton Worldwide
- President of Expedia.com and its Partner Services
- A partner in McKinsey & Company’s travel and hospitality practice.
Achievements Under His Leadership
- Guided the acquisitions of Buffalo Wild Wings and Sonic in 2018, Jimmy John’s in 2019, and Dunkin’ Brands in 2020.
- Grew Inspire’s system-wide global sales to over $32.6 billion in 2024.
- Oversaw the launch of shared service platforms, technology integration, and data-driven decision-making across brands.
Education & Community Leadership
- Holds a B.S. in management from Georgia Tech, an MBA and Master of Engineering Management from Northwestern’s Kellogg School.
- Active in community leadership, including chairmanship of Children’s Healthcare of Atlanta’s board (appointed January 2025).
- Serves on boards of Georgia Tech Foundation and Metro Atlanta Chamber.
Strategic Vision & Growth
Brown is the primary architect of Inspire’s growth through acquisitions and global expansion. He oversees Inspire’s strategic direction and brand synergy.
Organizational Structure
Since late 2023, Brown led a key realignment of Inspire into three pillars: Brands, Commercial & Company Restaurants, and Growth.
- Scott Murphy was appointed Chief Brand Officer
- Dan Lynn became Chief Commercial & Restaurant Officer
- Christian Charnaux continues as Chief Growth Officer.
Brown retains final authority, with senior leaders reporting directly to him.
Governance and Shareholder Influence
As CEO and a meaningful equity holder (approximately 5%), Brown works closely with majority owner Roark Capital Group (≈58%). He also serves on the board and represents Inspire in governance and shareholder strategy.
Who Controls Inspire Brands?
Roark is the controlling owner with majority equity. It appoints board members, provides strategic oversight, and holds decision-making power over acquisitions and large investments.
Board of Directors
The board comprises representatives from Roark and senior Inspire executives, including Brown. They steer high-level corporate strategy, governance, and key financial decisions.
Executive Leadership Team
Led by Brown, this team includes CFO Kate Jaspon, Chief Brand Officer Scott Murphy, Chief Commercial Officer Dan Lynn, and Chief Growth Officer Christian Charnaux. They manage day-to-day operations across different business segments.
Franchisees & Brand Presidents
Individual brand presidents report to the executive team (under Murphy), while franchisees influence operational decisions through partnership models
Inspire Brands Annual Revenue and Net Worth
Inspire Brands reported strong performance across all its restaurants in 2024, generating approximately $32.6 billion in systemwide sales. This figure includes all sales made at both company-owned and franchised restaurants under its portfolio, which includes Dunkin’, Sonic, Arby’s, Jimmy John’s, Buffalo Wild Wings, and Baskin-Robbins.
Based on current industry momentum and expanding customer engagement, Inspire’s systemwide sales are expected to exceed $34 billion in 2025. Continued innovation in digital ordering, delivery services, and menu customization has helped maintain high transaction volumes across its global network.
Here’s a quick summary of the financial standing of Inspire Brands as of June 2025:
| Metric | Value |
|---|---|
| Systemwide Sales (2024) | $32.6 billion |
| Corporate Revenue (2025) | ~$14.4 billion |
| Estimated Company Valuation | $15–20 billion |
| Projected IPO Valuation | $20 billion+ |
| Digital Revenue Contribution | $6 billion+ (2021 baseline) |
| Brand Revenue Highlights (2024) | Dunkin’, Sonic, Arby’s, others |
While systemwide sales reflect the total volume across all franchise and company-operated stores, Inspire’s own corporate revenue for 2025 is estimated to be around $14.4 billion. This includes income from company-owned store operations, franchise royalties, licensing fees, supply chain services, and digital technology platforms.
Revenue is well-diversified across several channels, which allows Inspire to scale profitably and support its infrastructure, marketing, and innovation investments. The company currently employs over 56,000 people, with a strong corporate and operational backbone supporting its multi-brand model.
Revenue by Brand and Digital Sales Growth
Each brand under the Inspire umbrella contributes significantly to the company’s revenue mix. In 2024, Dunkin’ generated the highest sales at roughly $11.3 billion, followed by Sonic Drive-In at around $5.5 billion, and Arby’s at approximately $4.5 billion. Buffalo Wild Wings added about $3.9 billion, while Jimmy John’s brought in close to $2.4 billion, and Baskin-Robbins contributed over $700 million.
Additionally, digital innovation remains a strong revenue channel for Inspire. As of 2021, the company had already surpassed $6 billion in digital sales, and this figure has grown significantly by 2025 due to improved mobile apps, digital loyalty programs, and increased online ordering.
Net Worth and Estimated Valuation in 2025
As of June 2025, its estimated net worth is between $15-20 billion, depending on brand performance, earnings multiples, and strategic opportunities.
Several financial analysts and media reports indicate that Roark Capital is preparing Inspire Brands for a potential public offering. If Inspire does go public, its IPO valuation could range from $20 billion to $22 billion, based on expected EBITDA growth and the strength of its brand portfolio. This puts Inspire among the most valuable multi-brand restaurant operators in the world.
Here’s an overview of the historical revenue and net worth of Inspire Brands:
| Year | Estimated Corporate Revenue (USD) | Systemwide Sales (USD) | Estimated Net Worth / Valuation (USD) | Key Notes |
|---|---|---|---|---|
| 2015 | $2.3 billion | $6.1 billion | ~$1.5 billion | Arby’s under Roark Capital; no Inspire yet |
| 2016 | $2.6 billion | $6.8 billion | ~$1.9 billion | Arby’s growth; planning for expansion |
| 2017 | $2.8 billion | $7.3 billion | ~$2.4 billion | Acquired Buffalo Wild Wings late 2017 |
| 2018 | $4.2 billion | $9.5 billion | ~$5 billion | Inspire Brands founded (Arby’s + BWW) |
| 2019 | $4.9 billion | $11.2 billion | ~$6.3 billion | Acquired Sonic Drive-In & Jimmy John’s |
| 2020 | $7.2 billion | $15.5 billion | ~$8.5 billion | Acquired Dunkin’ Brands & Baskin-Robbins |
| 2021 | $11.2 billion | $27.6 billion | ~$12 billion | Full integration of all 6 brands |
| 2022 | $12.3 billion | $29.1 billion | ~$13.5 billion | Digital growth, international expansion |
| 2023 | $13.1 billion | $30.8 billion | ~$14.2 billion | Reorganization of leadership and growth divisions |
| 2024 | $13.9 billion | $32.6 billion | ~$15.8 billion | IPO discussions begin |
| 2025* | $14.4 billion (est.) | $34.0 billion (est.) | ~$18–20 billion (est.) | Expected IPO; record valuation |
Brands Owned by Inspire Brands
Inspire Brands owns several iconic restaurant chains across different segments. Each brand operates under the Inspire umbrella but maintains its own leadership.
Below is the list of the major brands and companies owned by Inspire Brands as of June 2025:
| Brand/Entity | Category | Year Acquired | # Locations (Approx.) | Key Details / Business Role |
|---|---|---|---|---|
| Arby’s | QSR – Sandwiches | 2018 (part of founding) | 3,400+ | Founding brand of Inspire; known for roast beef and meats. |
| Buffalo Wild Wings | Casual Dining – Wings & Sports | 2018 | 1,200+ | Sports bar concept; wings, beer, TV-focused atmosphere. |
| Sonic Drive-In | QSR – Drive-In | 2018 | 3,500+ | Drive-in style; burgers, drinks, customizable menu. |
| Jimmy John’s | QSR – Sandwiches | 2019 | 2,600+ | “Freaky Fast” sandwich delivery; urban and suburban reach. |
| Dunkin’ | QSR – Coffee/Bakery | 2020 | 13,200+ | Leading coffee and breakfast chain; mobile order leader. |
| Baskin-Robbins | QSR – Ice Cream | 2020 | 7,700+ | Ice cream and desserts; global franchise brand. |
| Rusty Taco | Fast-Casual – Tacos | 2018 (via BWW) | 40+ | Small chain focused on street-style tacos. |
| Mister Donut (U.S. only) | QSR – Donuts | 2020 (via Dunkin’) | Dormant | Legacy brand; inactive in U.S., potential for revival. |
| Baskin-Robbins Manufacturing | Supply Chain Entity | 2020 | N/A | Operates ice cream production and distribution centers. |
| Dunkin’ Supply Chain (NSO/DCPC) | Supply Chain Entity | 2020 | N/A | Manages procurement and logistics for U.S. franchisees. |
| Inspire Shared Services | Central Operations | 2018 | N/A | Provides HR, marketing, IT, finance across brands. |
| Go Inspire Innovation Lab | Tech & R&D | 2021 | N/A | Leads digital innovation, AI, drive-thru, and robotics. |
| Inspire International Operations | Global Franchising | 2019 | N/A | Oversees international licensing and expansion. |
Arby’s
Arby’s is one of the founding brands of Inspire Brands and serves as the company’s cornerstone in the quick-service sandwich market. Acquired by Roark Capital in 2011 and later merged into Inspire in 2018, Arby’s specializes in roast beef sandwiches and hot meats with a focus on quality and variety. As of 2025, Arby’s operates over 3,400 restaurants worldwide. Under Inspire, Arby’s has expanded its menu, modernized its locations, and invested heavily in digital ordering and delivery infrastructure.
Buffalo Wild Wings
Buffalo Wild Wings, also known as B-Dubs, was acquired in late 2017 and became part of Inspire’s formation in 2018. It operates as a sports bar and casual dining chain known for chicken wings, beer, and televised sports. With over 1,200 locations in the U.S. and abroad, the brand underwent significant modernization post-acquisition, including a new brand image and loyalty program integration. Inspire streamlined operations and leveraged shared services to improve profitability.
Sonic Drive-In
Sonic was acquired in 2018 and brought a unique drive-in fast-food experience to Inspire’s portfolio. With over 3,500 drive-in locations across the U.S., Sonic remains a leader in customizable drinks, burgers, and nostalgic carhop service. Inspire Brands has heavily invested in improving Sonic’s mobile app, adding mobile ordering and personalization features. The brand plays a vital role in Inspire’s QSR (quick service restaurant) category.
Jimmy John’s
Jimmy John’s was acquired by Inspire Brands in 2019, expanding its footprint in the sandwich and delivery segment. Known for its “Freaky Fast” service and cold subs, Jimmy John’s operates over 2,600 restaurants across the U.S. Inspire integrated Jimmy John’s into its shared data and analytics platform, optimizing delivery networks and customer loyalty programs. The acquisition also enhanced Inspire’s reach into college towns and suburban markets.
Dunkin’
Dunkin’ (formerly Dunkin’ Donuts) was acquired by Inspire Brands in late 2020 as part of a $11 billion deal that included Dunkin’ and Baskin-Robbins. As of 2025, Dunkin’ is the highest-earning brand in Inspire’s portfolio, with over 13,200 locations globally. Known for coffee, donuts, breakfast sandwiches, and on-the-go convenience, Dunkin’ has been central to Inspire’s digital strategy. The brand leads in mobile ordering and loyalty, with a strong presence in both the U.S. and international markets.
Baskin-Robbins
Baskin-Robbins is a global ice cream chain also acquired through the 2020 Dunkin’ Brands acquisition. With over 7,700 locations worldwide, it is known for its “31 flavors” concept. Inspire has revamped the brand with updated store designs and new flavor innovations while leveraging its global footprint. Baskin-Robbins adds dessert-focused diversity to Inspire’s primarily savory-oriented portfolio and provides seasonal growth opportunities.
Rusty Taco
Rusty Taco is a small but fast-growing chain of street-style taco restaurants offering affordable and flavorful Mexican fare. Originally part of the Buffalo Wild Wings portfolio, it remained with Inspire after the acquisition. As of 2025, the brand operates in more than 40 locations and is positioned as a fast-casual option. Inspire is slowly expanding Rusty Taco into suburban and mid-market cities to test its national scalability.
Mister Donut (U.S. Operations Only)
Mister Donut, while primarily active in Asia and under different ownership overseas, remains a dormant U.S. brand under the Inspire umbrella via the Dunkin’ Brands acquisition. Inspire holds the rights to the Mister Donut trademark in the U.S., although no new stores have been opened. It may be revived in the future or rebranded as a Dunkin’ experimental line.
Baskin-Robbins Specialty Manufacturing
This is the manufacturing and supply chain division tied to Baskin-Robbins. Inspire Brands owns and operates the Baskin-Robbins ice cream production facilities in the U.S., supplying ingredients and branded products to franchisees across North America. It is one of the few vertically integrated operations within Inspire’s structure, giving it greater control over product consistency and quality.
Dunkin’ U.S. Supply Chain Operations (NSO)
Inspire also controls Dunkin’s centralized supply chain for its domestic franchisees. This includes the National DCP (National DCP, LLC), a cooperative that was integrated more closely into Inspire’s logistics operations after the Dunkin’ acquisition. It ensures consistent supply delivery across coffee, baked goods, cups, and equipment.
Inspire Shared Services
Inspire Brands operates a centralized services division that manages IT, finance, marketing, human resources, loyalty programs, and analytics across all its owned brands. This shared services model allows Inspire to reduce costs, enhance operational efficiency, and deliver consistent customer experiences. The platform also powers mobile apps and integrates customer data across all brands.
Go Inspire Innovation Lab
Go Inspire is the company’s innovation lab focused on digital transformation, robotics, drive-thru AI, and kitchen automation. Based in Atlanta, this internal entity collaborates with tech startups and industry leaders to develop future restaurant technology solutions. It plays a crucial role in digital ordering, voice command drive-thru systems, and predictive delivery.
Inspire International Operations
Inspire operates a growing international division that handles global franchising, brand expansion, and cross-border compliance. This entity manages the licensing of Dunkin’, Baskin-Robbins, Buffalo Wild Wings, and Arby’s in countries across Asia, the Middle East, and Europe. It also leads negotiations with foreign development partners and international franchise groups.
Final Thoughts
Inspire Brands has grown rapidly through bold acquisitions and strong leadership. The company is privately held, with Roark Capital as the dominant owner. Its portfolio includes some of the most recognized restaurant names in the world. With Paul Brown at the helm, Inspire Brands continues to scale and evolve. For those wondering who owns Inspire Brands, the answer lies in strategic private ownership and visionary leadership.
FAQs
Who is Inspire Brands owned by?
Inspire Brands is primarily owned by Roark Capital Group, a private equity firm that founded Inspire in 2018. Roark remains the largest shareholder and controls the company through its majority ownership stake.
Who is the CEO of Inspire Brands Asia?
As of 2025, the CEO of Inspire Brands Asia is Yasir Anwar. He oversees all brand operations, franchise development, and market expansion for Inspire’s portfolio across the Asian region.
Who is Yasir Anwar Inspire Brands?
Yasir Anwar is the regional CEO for Inspire Brands Asia. He is responsible for driving growth strategies, managing franchise partnerships, and adapting Inspire’s brands for the diverse Asian markets.
How much is Inspire Brands worth?
Inspire Brands is estimated to be worth between $18 billion and $20 billion as of 2025. This valuation reflects its multi-brand portfolio, strong revenue, and anticipated plans for an initial public offering (IPO).
Who are the shareholders of Inspire Brands?
The main shareholders of Inspire Brands include Roark Capital Group (majority owner), senior executives and management through equity holdings, and minority investors who joined during later funding rounds. Roark Capital holds the largest controlling stake.
Where is Inspire Brands’ headquarters?
Inspire Brands is headquartered in Atlanta, Georgia, USA. The headquarters serves as the central hub for corporate operations, brand management, and innovation labs.
What companies does Arby’s own?
Arby’s is a standalone brand owned by Inspire Brands. It does not own any other companies. Instead, it operates as part of Inspire’s multi-brand portfolio alongside other chains like Dunkin’, Sonic, and Buffalo Wild Wings.
Is Inspire Brands publicly traded?
No, Inspire Brands is not publicly traded as of 2025. It remains a privately held company under Roark Capital Group. However, there are ongoing discussions about a potential IPO in the near future.
Who is the main owner of Inspire Brands?
The main owner of Inspire Brands is Roark Capital Group, a private equity firm based in Atlanta.
Is Inspire Brands publicly traded?
No, Inspire Brands is a privately held company and is not listed on any stock exchange.
What restaurants are under Inspire Brands?
Inspire owns Arby’s, Buffalo Wild Wings, Sonic Drive-In, Jimmy John’s, Dunkin’, and Baskin-Robbins.
Who is the CEO of Inspire Brands?
Paul Brown is the CEO and co-founder of Inspire Brands. He has held this position since its formation in 2018.