Headlines

Subway Confirms Sale to Roark Capital

Deal combines Subway’s global presence and brand with Roark’s restaurant and franchise prowess

Published

8 months ago

August 24, 2023

VMSD Staff

Photography: Courtesy of Subway

Subway (Miami) said that it has entered into a definitive agreement to be bought by private equity firm Roark Capital (Atlanta). Terms of the deal were not disclosed, but published reports earlier this week placed it at $9.6 billion.

Roark has $37 billion in assets under management, focusing on investments in consumer and business service companies, with a specialization in franchise and franchise-like businesses. Its restaurant holdings include Arby’s, Buffalo Wild Wings, Cinnabon, Jimmy Johns, McAlister’s Deli and Sonic and The Cheesecake Factory.

“This transaction reflects Subway’s long-term growth potential, and the substantial value of our brand and our franchisees around the world,” Subway CEO John Chidsey said in a news release. “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 buy comes on the heels of Subway announcing its 10th consecutive quarter of positive same-store sales. The company said it will continue to execute its strategy with a focus on sales growth, menu innovation, modernization of restaurants, overall guest experience improvements and international expansion.

Subway oversees a network of nearly 37,000 franchise sandwich shops in more than 100 countries.

VMSD Staff

Drawing on more than 125 years of history serving the retail design market, VMSD magazine provides retail professionals with the most up-to-date, innovative retail design ideas and industry news through its industry-leading magazine, website, social media channels and bulletins.

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