Brand Bits: Arby's Gets Wild Buffalo Wings; Dove Doubles Down

Arby’s Restaurant Group, Inc. (“ARG”) and Buffalo Wild Wings, Inc. (Nasdaq: BWLD) (“BWW”) today announced that the companies have entered into a definitive merger agreement under which ARG will acquire BWLD for $157 per share in cash, in a transaction valued at approximately $2.9 billion, including BWW’s net debt. 

"Buffalo Wild Wings is one of the most distinctive and successful entertainment and casual dining restaurant companies in America,” said Paul Brown, CEO of Arby’s Restaurant Group, Inc. “We are excited to welcome a brand with such a rich heritage, led by an exceptionally talented team. ”

“We are excited about this merger and confident Arby’s represents an excellent partner for Buffalo Wild Wings,” said Sally Smith, CEO of Buffalo Wild Wings. “This transaction provides compelling value to our shareholders and is a testament to the hard work and efforts of our talented Team Members and franchisees. ”

Unilever, marketer of Dove, announced Monday that it's agreed to acquire Sundial Brands, marketer of SheaMoisture.

Dove faced a wave of social-media criticism last month over a Facebook video for its body wash that appeared to show a black woman turning into a white woman. Sundial faced a similar backlash over ads in April that showed SheaMoisture hair-care products being used by white women, which was seen by many on social media as moving the brand away from its core African-American consumers.

The companies didn't address those controversies in announcing the deal, but did reveal steps that could help thwart more backlash. This includes a $50 million New Voices Fund to back women-of-color entrepreneurs, with a goal of attracting an additional $50 milliion from outside investors.

Sundial will continue as a standalone unit within the global packaged-goods behemoth, led by founder and CEO Richelieu Dennis.