Atlanta-based private equity firm Roark Capital has agreed to acquire Subway, one of the world’s largest quick-service restaurant brands.
While Subway and Roark Capital did not disclose any information on the terms and financial details of the deal, earlier this week, The Wall Street Journal reported that Roark Capital’s final offer for Subway was approximately $9.6 billion.
“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.”
Subway serves freshly made-to-order sandwiches, wraps, salads and bowls to millions of guests, across more than 100 countries in nearly 37,000 restaurants every day.
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, and prides itself on being a trusted partner for management and business owners.
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