NEW DELHI: Private equity group Roark Capital's Inspire Brands is set to purchase the parent company of the chain formerly known as Dunkin Donuts and Baskin-Robbins for approximately $11.3 billion and would assume the company's debt.

The recent development would bring chains like Arby’s and Dunkin’ Donuts under the same umbrella in one of the largest restaurant deals.

“Dunkin’ and Baskin-Robbins are category leaders with more than 70 years of rich heritage, and together they are two of the most iconic restaurant brands in the world,” co-founder and CEO of Inspire Brands, Paul Brown, said in a statement. 

“By joining Inspire, these brands will add complementary guest experiences and occasions to our current portfolio", he added further.

“We are excited to bring meaningful value to shareholders who have been with us on this journey and believe that Inspire Brands, a preeminent operator of franchised restaurant concepts, will continue to drive growth for our franchisees while remaining true to all that is unique and special about the Dunkin’ and Baskin-Robbins brands," Dunkin’ Brands CEO Dave Hoffmann said in a statement.

The two brands announced Friday that they entered "into a definitive merger agreement," which has been unanimously approved by the Boards of Directors of Inspire and Dunkin’ Brands. The transaction is expected to close by the end of 2020.

According to media reports, this deal is considered one of the largest restaurant deals in years.

Inspire Brands was formed two years ago by the merger of Arby's and Buffalo Wild Wings. That same year the newly formed company bought Sonic, and in 2019 it also added Jimmy John's Gourmet Sandwiches.

Dunkin' Brands has more than 12,500 Dunkin' locations and about 8,000 Baskin-Robbins.