Thursday, January 10, 2019

Update 2: Sonic files lawsuit against local developer

UPDATE (1/10/19): The Sonic fast-food drive-in chain has filed suit against the property owners of a proposed Clifton Park location, claiming they violated a lease agreement. This move comes after the owner of that space had instituted a suit against Sonic. No matter how the suits turn out, it seems fair to predict we'll never see a Sonic come to fruition in the Saratoga County community. Go here for the Daily Gazette's freport on the update.

UPDATE (12/19/18): Don't get too excited about the plans to build the Capital Region's third location of a Sonic Drive-In. They apparently have fallen through as DCG Development has cancelled Gene Nachamkin's lease of the Town Plaza, 800 Route 146, Clifton Park, location, claiming the franchise holder defaulted on their agreement. The project had received town approval in June. There are Sonic locations in Troy and Latham.
 
(Originally published 12/10/18 under the headline 'Sonic Drive-In chain
sale finalized at $2.3 billion')

The Capital Region's third Sonic Drive-In location is under development in Clifton Park, but the restaurant chain is making much bigger news -- being acquired by Inspire Brands Inc. in a $2.3 billion deal just finalized.

Inspire also owns the Arby's, Buffalo Wild Wings, and Rusty Taco brands. The acquisition of Sonic Corp. lifts its annual sales to more than $12 billion, the company said.

Sonic, headquartered in Oklahoma City, OK, has more than 3,600 drive-in restaurants in 45 states and reports about $4.4 billion in annual system-wide sales, making it the largest brand in Inspire’s portfolio. Arby's has more than 3,400 quick-service restaurants, Buffalo Wild Wings more than 1,250 casual-dining units, and Rusty Taco just 26.

Sonic entered the Capital Region in early 2014 when it opened in Latham on a Troy-Schenectady Road (Route 7) site at Wade Road that had long been home to the King's Buffet. Three years later, it opened a site in the Hudson River Commons shopping center on Troy's Hoosick Street. Last May, it was announced a third Sonic would be built at the Town Plaza on Route 146 in Clifton Park.

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