SONIC Refranchising Initiative Adds New Franchisee to System

February 9, 2017

Multi-concept franchisee, Let’s Shake, buys San Antonio drive-ins

Oklahoma City, OK  (RestaurantNews.com)  Sonic Corp. (NASDAQ: SONC), the nation’s largest chain of drive-in restaurants, announced multi-brand franchise organization Let’s Shake, led by restaurant industry veteran Sunil Dharod, purchased 53 SONIC Drive-Ins as part of the brand’s previously announced refranchising initiative.

Let’s Shake purchased the drive-ins from Sonic Restaurants, Inc., the Company’s wholly-owned subsidiary that owns and operates 286 SONIC Drive-Ins. In 2016, the brand announced a refranchising initiative to move toward an approximately 95% franchised system. The sale of drive-ins in the San Antonio market is a key step in achieving