- Roark Capital chose multiple banks to lead Inspire Brands’ US IPO, targeting $2B.
- JPMorgan, Bank of America, Barclays, Goldman Sachs, and Morgan Stanley are involved.
- An IPO could happen as soon as this year, amid a surge in private equity exits.
- Inspire Brands recorded $33.4B in global sales in 2025 across 33,300 restaurants.
IPO Planning Progresses
Roark Capital has selected JPMorgan, Bank of America, Barclays, Goldman Sachs, and Morgan Stanley to steer an initial public offering for Inspire Brands, according to Bloomberg. The IPO, anticipated to raise about $2B, could occur before year-end if market conditions permit. Deliberations are ongoing and details may change as the process unfolds.
Restaurant Portfolio Under the Spotlight
Inspire Brands, created by Roark in 2018, owns a large portfolio including Dunkin’, Arby’s, Jimmy John’s, Baskin-Robbins, Sonic Drive-In, and Buffalo Wild Wings. The company bought Dunkin’ Brands in 2020 in an $11B deal, solidifying its status as a restaurant conglomerate.
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IPO Market Context
The Inspire Brands IPO follows a trend of increased listing activity. Several private equity-backed consumer companies are moving toward public markets. Recent months have seen industrial and consumer names go public. Jersey Mike’s Subs and Mavis Tire also plan sizeable offerings. Inspire Brands reported $33.4B in global sales for 2025. It operates more than 33,300 restaurants across 60 markets. However, capital markets activity has shown signs of slowing in early 2026, with fewer public offerings reaching completion.
What’s Next
Inspire Brands’ public debut could take place during a busy period for IPOs, as investors and bankers anticipate further private equity exits. Success could depend on broader IPO market performance and investor demand for consumer-focused businesses.
