On Aug. 24, Subway announced that it entered into a definitive agreement to be acquired by affiliates of Roark Capital.
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. Included in Roark Capital Group’s portfolio of companies are Atlanta-based: Arby’s, Baskin-Robbins, Buffalo Wild Wings, Carvel, Cinnabon, Dunkin’, Jimmy John’s, Schlotzsky’s and several other large restaurant chains.
“This transaction reflects Subway’s long-term growth potential, and the substantial value of our brand and our franchisees around the world,” said 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.
