By Shubham Kalia and Nivedita Balu

(Reuters) - Inspire Brands Inc will buy Dunkin' Brands Group Inc for $8.76 billion, the two companies said late on Friday, bringing chains like Arby's and Dunkin' Donuts under the same umbrella in one of the largest restaurant deals.

Inspire Brands, which owns Arby's, Buffalo Wild Wings and Sonic Drive-In, said its all-cash deal to take the owner of Dunkin' Donuts and Baskin-Robbins chains private would value it at $106.50 a share. That represents a nearly 20% premium over Dunkin's last closing share price on Oct. 23, before the New York Times first reported the deal talks.

Including debt, the deal is valued at about $11.3 billion, the companies said.

Sales at Dunkin' and Baskin-Robbins have improved from their lockdown lows in recent weeks, boosted by strong demand for its curbside pickup, drive-thru and delivery options.

Dunkin' and Baskin-Robbins on Thursday posted a surprise rise in U.S. comparable sales in the third quarter.

Dunkin' and Baskin-Robbins will operate as distinct brands within Inspire, the companies said.

"We are excited to bring meaningful value to shareholders who ... believe that Inspire Brands ... 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 Chief Executive Officer Dave Hoffmann said.

Dunkin' Brands operates 12,900 Dunkin' restaurants and more than 8,000 Baskin-Robbins stores around the world. Inspire Brands, which was formed in 2018 by private equity firm Roark Capital as a holding company, has a portfolio of more than 11,000 restaurants.

"They will strengthen Inspire through their scaled international platform and robust consumer packaged goods licensing infrastructure, as well as add more than 15 million loyalty members," Paul Brown, chief executive officer of Inspire Brands, said.

The Wall Street Journal first reported the confirmation of deal.

Barclays was the financial adviser to Inspire, while BofA Securities advised Dunkin’ Brands.

(Reporting by Shubham Kalia and Nivedita Balu in Bengaluru; Editing by Daniel Wallis and Leslie Adler)