Sandwich chain Subway will be sold to fast-food investor Roark Capital
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Sandwich chain Subway said Thursday it will be sold to Roark Capital, a private equity firm with expertise in restaurant management. Terms of the deal weren’t disclosed.
Sandwich chain Subway said Thursday it will be sold to Roark Capital, a private equity firm with expertise in restaurant management. Terms of the deal weren’t disclosed. Earlier this week, The Wall Street Journal reported that Roark was offering around $9.6 billion for the privately owned chain. Subway CEO John Chidsey said the deal reflects Subway’s long-term growth potential and the value of the brand. Subway plans to continue to modernize restaurants and expand internationally under Roark’s ownership. Roark specializes in franchised businesses and is the major investor behind multiple restaurant chains, including Arby’s, Dunkin’ and Buffalo Wild Wings.
Sandwich chain Subway said Thursday it will be sold to Roark Capital, a private equity firm with expertise in restaurant management. Terms of the deal weren’t disclosed. Earlier this week, The Wall Street Journal reported that Roark was offering around $9.6 billion for the privately owned chain. Subway CEO John Chidsey said the deal reflects Subway’s long-term growth potential and the value of the brand. Subway plans to continue to modernize restaurants and expand internationally under Roark’s ownership. Roark specializes in franchised businesses and is the major investor behind multiple restaurant chains, including Arby’s, Dunkin’ and Buffalo Wild Wings.
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