Subway Ends Family-Owned Run, , Sells to Private Equity Firm.
CNN reports that Subway has ended a six-month search for a buyer and will be sold to private equity firm Roark Capital.
CNN reports that Subway has ended a six-month search for a buyer and will be sold to private equity firm Roark Capital.
The news marks the end of the sandwich chain’s almost 60-year run as a family-owned business.
Subway released a statement, calling the deal a , “major milestone in Subway’s multi-year transformation journey, combining Subway’s global presence and brand strength with Roark’s deep expertise in restaurant and franchise business models.”.
Roark holds investments in a number of other major restaurant chains, including Arby’s, Buffalo Wild Wings and Sonic.
Roark holds investments in a number of other major restaurant chains, including Arby’s, Buffalo Wild Wings and Sonic.
Roark holds investments in a number of other major restaurant chains, including Arby’s, Buffalo Wild Wings and Sonic.
This transaction reflects Subway’s long-term growth potential, and the substantial value of our brand and our franchisees around the world, John Chidsey, Subway CEO, via CNN .
Subway has a bright future with Roark, and we are committed to continuing to focus on a win-win-win approach for our franchisees, our guests and our employees, John Chidsey, Subway CEO, via CNN .
While the terms of the deal were not officially disclosed, 'The Wall Street Journal' reported the purchase price to be "around $9.6 billion.".
While the terms of the deal were not officially disclosed, 'The Wall Street Journal' reported the purchase price to be "around $9.6 billion.".
CNN reports that the figure is slightly below the $10 billion Subway had been asking for since being put up for sale in February.
CNN reports that the figure is slightly below the $10 billion Subway had been asking for since being put up for sale in February.
CNN reports that Roark’s acquisition of Subway is the second-largest in fast food history.
In 2020, Inspire Brands, which is also owned by Roark, purchased Dunkin' for $11.3 billion.
