Jimmy John’s to be sold to the owner of Arby’s, Buffalo Wild Wings, as competition for lunch dollars heats up

Jimmy John's Sandwiches, which has grown to more than 2,800 shops since its founding in Charleston, Ill., 36 years ago, is getting sold to the owner of Arby's, Buffalo Wild Wings, Sonic Drive-In and Rusty Taco.

Financial terms of the deal with Atlanta-based Inspire Brands, announced early Wednesday, were not disclosed.

After the transaction closes, Jimmy John Liautaud will step down as chairman of the eponymous Champaign-based chain and become an adviser to the brand. James North, Jimmy John’s president, will serve as president of the Jimmy John’s brand at...