MORRIS COUNTY — Subway, the renowned sandwich chain, announced its forthcoming acquisition by Roark Capital Group on Thursday. This anticipated $9 billion deal, as reported by Reuters based on anonymous sources, follows over six months of Subway considering a potential sale. The transaction will see the collaboration of Subway with affiliates of the private equity behemoth.
John Chidsey, Subway’s CEO, commented on the acquisition, highlighting the enduring growth potential of Subway and the immense value of its global brand and franchisees. “Our alliance with Roark emphasizes our vision for a promising future, continuing our dedication to a mutual benefit approach for our franchisees, patrons, and workforce,” said Chidsey.
Roark Capital Group, headquartered in Atlanta, manages assets totaling approximately $37 billion, as mentioned on its official website. The firm has a significant inclination towards investing in franchise models, spanning diverse sectors including restaurants, fitness, and business services, among others.
Beyond the imminent inclusion of Subway and its extensive network of over 37,000 outlets, Roark holds majority stakes in Inspire Brands and Focus Brands, as per historical announcements from the equity firm. Through its affiliations with Inspire and Focus, Roark boasts ownership in a plethora of renowned brands. This impressive roster features names like Arby’s, Auntie Anne’s Pretzels, Baskin Robbins, Buffalo Wild Wings, Cinnabon, Dunkin’, Jimmy John’s, and Sonic, to name a few.