Subway Announces Sale to Roark Capital

0
Subways Restaurant storefront

MIAMI — Subway has entered into a definitive agreement to be acquired by affiliates of Roark Capital. The transaction is 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 is a private-equity firm with $37 billion in assets under management. Roark focuses on investments in consumer and business-service companies, with a specialization in franchise and franchise-like businesses.

“This transaction reflects Subway’s long-term growth potential, and the substantial value of our brand and our franchisees around the world, “says John Chidsey, CEO of Subway. “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.”

The transaction comes on the heels of Subway announcing its 10th consecutive quarter of positive same store sales. The company will continue to execute its strategy with a focus on sales growth, menu innovation, modernization of restaurants, overall guest experience improvements, and international expansion.

J.P. Morgan is serving as financial advisor and Sullivan & Cromwell LLP is serving as legal counsel to Subway. Timing is subject to regulatory approvals and customary closing conditions.

This site uses Akismet to reduce spam. Learn how your comment data is processed.